USD/JPY had another
indecisive movement yesterday. The bias is neutral in nearest term probably
with slight bullish signals. The nearest support is located at ¥99.95. A clear break below it could trigger
further bearish pressure testing the key support at ¥99.50. The intraday resistance remains ¥100.60, where is located the 200-day
exponential moving average. A clear break above this level could trigger
bullish pressure for testing ¥101.15
level, but while the pair is below ¥100.60
the outlook remains bearish.
The US marco agenda for today offers plenteous set of data , that will sir the
market. Most important is the Jackson Hole Symposium, that starts today and the
USD/JPY pair is expected to be under some selling pressure.
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