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Forex pairs in this Article » USD/JPY (Chicago) - AUD/USD continues extending the short-term bullish channel after bounce from lows yesterday, advancing minimally on data-driven day.

USD/JPY Technical Levels

Technically speaking, the pair is offered at 98.15 and oscillates between the supports aligned at 98 (October 15th lows), 97.54 (October 18th lows) followed by 97.20 (October 8th highs) and the resistances set at 98.46 (session highs), 99 (October 15th highs) followed by 99.39 (September 16th highs).

Valeria Bednarik, analyst states “the USD/JPY stands practically unchanged from previous Asian opening, having found buyers around 97.80 static support, but also sellers around 98.40, 100 DMA. The hourly chart reflects the neutral stance the pair has, with indicators flat around their midlines and price back and forth around 100 and 200 SMAs. Bigger time frames present the same scenario, giving no clues on direction for the upcoming sessions. Playing the range then, is favored with increased risk to the downside on a break below mentioned support.”
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