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Forex pairs in this Article » USD/JPY (Barcelona) - USD/JPY peaked out just before midnight GMT, corrected lower for just over an hour and is now gathering up steam for another try at new session highs - and perhaps a move up to the 101.46 - 101.53 range.

USD/JPY traders waiting for BOJ survey

USD/JPY traders will be watching the release and reaction surrounding the Bank of Japan’s Monthly Economic Survey at 05:00 GMT.

Technical outlook for USD/JPY

Technicians are saying the USD/JPY faces key macro resistance at 101.46 (to possibly 101.53). The next resistance / target above that is the Fibonacci-generated 103.29. Support for the cross comes in at last Friday’s close at 100.17 and is followed up by Tuesday’s low of 99.56.
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