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USD/JPY: Drifting Lower

USD/JPY remains capped by its declining trendline. Monitor the support at 96.82 (28/08/2013 low). Another support stands at 95.81. Resistances are at 97.87 and 98.73 (01/10/2013 high).

In the longer term, the technical configuration since the 22 May peak at 103.74 looks like a pause within an underlying uptrend. A significant support stands at 95.81. A key resistance stands at 101.53.

Daily Technical Report

 

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