USD/JPY Current price: 121.15
View Live Chart for the USD/JPY
The USD/JPY pair trades near its daily high of 121.21, having erased all of its intraday losses ahead of the US opening. The pair has been capped by a slightly bearish 100 DMA ever since the week started, and retains an overall bearish tone in the longer term, albeit with the FED's outcome to be release in a bit more than 24 hours, is quite unlikely that technical readings will determinate the future of the pair in term. Shorter term, the 1 hour chart shows that the price remains below a bearish 100 SMA while the technical indicators are moving back and forth around their mid-lines, lacking clear directional strength. In the 4 hours chart, the technical indicators have corrected higher, but hold well below their mid-lines, whilst the 100 and 200 DMAs converge around 122.40. Overall, the upside is expected to remain limited, with selling interest now probably waiting around 121.35.
Support levels: 121.00 120.60 120.30
Resistance levels: 121.35 121.70 122.20
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