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Forex pairs in this Article » USD/JPY (Chicago) - USD/JPY falls on bearish pressure to 98.56 session lows at Tokyo’s opening ahead of Kuroda’s speech.

According to analyst, Valeria Bednarik, “the USD/JPY continued pulling back from the highs established around 98.83, albeit maintaining also a tight trading range and presenting a technical neutral stance: the hourly chart shows indicators flat around their midlines, although price steady above moving averages, with 100 one offering some short term support around 98.40. A break below this last should signal more weakness in the pair for the upcoming hours, eyeing then 97.80, past Friday low.” The Nikkei 225 opened 0.60% stronger.

USD/JPY Technical levels

Technically speaking, the pair is offered at 98.56 and oscillates between the supports aligned at 98.47 (October 22nd highs), 98 (October 14th lows) ahead of 97.60 (October 24th highs) and the resistances set at 98.70 (October 30th highs), 99 (October 16th highs) followed by 99.25 (August 21st highs). According to the trend index, the pair is slightly bearish on one-hour timeframe analysis on a neutral EMA20.
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