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Forex pairs in this Article » USD/JPY (Barcelona) - The USD/JPY cross finished the first session of the week slightly lower – a welcome opportunity while Japanese markets were closed to let out some of the pressure so that the cross does not become too overbought.

USD/JPY traders to focus on Kuroda comments in a few hours

Tuesday, the big, USD/JPY-moving news will will be emanating from BOJ Governor Kuroda’s speech early in the session and will be followed up by the US ISM Manufacturing PMI later during the US session.

Technical outlook for USD/JPY

Technicians say USD/JPY broke above horizontal line resistance at 98.47 early last week– potentially opening up more upside for the cross. Support comes in at the horizontal line of 97.61. Resistance for USD/JPY comes in at the 10/17 peak at 98.99 and is backed up by the maximum “correction resistance” at 99.80.
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