Japanese Yen is of great importance to the exporting heavyweights of the Japanese economy and as such has a great effect on The Nikkei. USD/JPY is currently trading at 91.72, up just 2 points from the open. Bank of Japans cash injection to the market, has slowed the Yen recently , or at least the Yen has slowed at the same time. Pair trades in a tight range between 91.65 and 91.75.
For key technical levels Valeria Bednarik, collaborator at FXstreet.com, guides us: Favored by Wall Street, pair holds the bullish perspective despite still in a tight range. Hourly charts show indicators flat, with price above 20 SMA acting as dynamic support for the pair. Bigger time frames indicators are also flat, not giving clear clues; however, an acceleration above 91.85 highs area, likely to open doors for further upside runs in the pair, with 92.40 as next key level yo watch.