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Forex pairs in this Article » USD/JPY (Chicago) - USD/JPY can’t resist bearish pressure and goes back to the 99.50 front despite roundtrip to the 99.80 zone.

Data recap

Earlier data released in Japan revealed improvements with the machine tool orders at 8.4% vs. past -6.3% while the consumer confidence index was 41.2 vs. expected 46.3 and past 45.4. In the US, the Chicago Fed National Activity Index for September was 0.14 vs. prior 0.13.

USD/JPY Technical Levels

Price action reveals a pair that stalls around the 99.80 zone, session highs, but maintains 2-month highs despite bearish pressure. Offered at 99.53, the pair navigates between the supports aligned at 99.36 (November 7th highs), 99 (November 11th lows), 98.70 (November 6th highs) and the resistances set at 99.71 (September 19th highs), 100.25 (September 2nd highs) followed by 100.60 (September 15th highs). According to the trend index, the pair is slightly bearish on one-hour timeframe analysis flowing above the EMA20.
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