FXstreet.com (London) - USD/JPY has traded softly this session, after some early choppy trade, market is current in period of relaxation around its current level of 92.28, off around 10 pips from the open.
Yen weakness seems to have paused despite the new Financial Ministers statement last week calling for a weaker Yen. However USD has become markedly weaker after poor labour figure and dovish comments from FEDs Bullard. For support and resistance use the bounds of the current range as primary signals; 92.30 and 92.15. Take these levels as primary resistance and support.
BoJ today made several announcements, none causing significant price moves. Central bank emphasised low interest rates to stay 'for some time', citing low inflation and low growth as contributing factors.
For key technical levels Valeria Bednarik, collaborator at FXstreet.com, guides us: Holding above 92.20 area, pair has regained the downside, after failing to break 200 SMA in the daily chart past Friday. Hourly charts show 20 SMA above current price and turning bearish, with indicators noisy after NFP report. 4 hours charts however, support further downside strength ahead if 92.20 supports gives up.