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Forex pairs in this Article » USD/JPY (Chicago) - USD/JPY continues printing higher highs extending the upward short-term trendline after the completion of a descending triangle prior to Tokyo’s opening. Accumulating 0.44% daily gains, the pair attempts to partially erase a remaining of 2.30% monthly losses.

With unsurprising BoJ minutes and Yellen’s appointment, equity indexes in Asia reveal nervousness on the 1-week-old US shutdown.

USD/JPY Technical Levels

Technically speaking, the pair is offered at 97.27 after consolidation above the 97 zone. Jim Lnaglands from FXcharts notes “the 200DMA and then 96.60 will provide some good support, although as has been widely telegraphed, there is not too much below here to stop it from heading towards 95.80 (8 August low), which is also where major rising trend support lies. Below this would suggest a deeper decline towards 94.50, but not yet. On the topside, above today’s 97.25 high, 97.50 and then 97.85 will again prove tough, ahead of further sellers at 98.00 (Daily Cloud base: 97.94). Beyond that, further resistance would be seen at 98.50 and 98.75.” According to the, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
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