Yesterday was a pretty quiet day. The range in most forex pair was minimal comparing to the last two weeks, so there was no breakout or a breakout setup which would lead to a large move today. This morning the forex market is pretty much the same, or even quieter I must say. So the support/resistance levels remain the same as yesterday.
USD/JPY is slowly creeping toward the 100 level
The Japanese Yen is clearly in an uptrend but it´s not going anywhere fast at the moment. The 100 support level in USD/JPY is still holding. The price is always getting closer and closer to it and we know what that usually means in forex, if a support/resistance level is tested to many times sooner or later it will have to let go. On the other hand, if it doesn´t get broken soon enough in the coming sessions/days then the bears might through the towel and the bulls will take over. And there´s always the Bank of Japan (BOJ) around the corner.
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