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Forex pairs in this Article » USD/JPY (London) - USD/JPY dropped from above 97.80 and bottomed out below the 97.00 handle before creeping into 97.20 territory where the pair is positioned ahead of the BoJ.

However, external issues, especially the US debt ceiling issue, may continue to put further pressure on JPY. “We maintain our view of USD/JPY at the 99 level in one month under some external jolts, and the 03 level in three months once the uncertainty in the US lifts. Japanese domestic flows may actively support USD/JPY”. Explained research teams at Bank or Tokyo Mitsubishi. “JPY may depreciate further versus Asian currencies, supported by Japanese corporate capital outflows as JPY depreciates versus Asian currencies. The present currency value rebalancing is still for yen depreciation”.

USD/JPY Levels

The 20 DMA is 98.85, the 50 DMA is 98.39 and the 200 DMA is 96.57. (RSI 14) reads 40.62. Supports are ascending from 95.92, 96.38, 96.81. Spot is currently 97.25. Resistances are 97.65, 97.93, 98.09, 98.30 and 98.57.
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