The Yen weakened versus the Dollar and majors after the Japanese stock market began to stabilize, drawing investors away from the currency and to the markets. The pair is retracing June's drop and is at resistance levels at the moment, where was previously a support on the daily chart and on Fibonacci 30% retracement levels. For now, waiting for a clear pattern for a further decline will provide a selling opportunity with a technical stop loss rate. Overall, USD/JPY traded with a low of 88.01 and with a high of 88.85. Today, Japanese interest rate decision is expected to remain unchanged.

USD/JPY-Last: 88.84

Resistance

89.15

 
 

Support

88.37

87.99

87.02

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