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Forex pairs in this Article » USD/JPY (Barcelona) - The USD/JPY foreign exchange rate is last trading at 99.92 off recent session lows at 99.59, printed on the back of massive Yen strength and broad USD weakness, following Japan PM Abe's victory in the upper house.

USD/JPY maintains a positive outlook

BoJ Sato has said recently that "BOJ does not rule out additional policy steps,” reported Eamon Sheridan at ForexLive. According to Valeria Bednarik, Chief Analyst at, “The USD/JPY maintains a positive outlook in the short term, as price stands above moving averages, and indicators head north above their midlines. The levels to watch are 100.70 and 99.90 as a break of either extreme may set the tone for the rest of the day.”

USD/JPY key technical levels

Bednarik sees support levels at 99.90 and 99.50, while resistance levels at: 100.70, 101.00 and 101.30.
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