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USD/JPY in no mans land between critical levels

FXStreet (Guatemala) - With the Nikkei opening down, 0.36%, USD/JPY is trading at 109.39, down -0.09% on the day, having posted a daily high at 109.52 and low at 109.38.

There was little reaction to domestic data in Japan just before the open that gave us readings as expected and the pair remains in neutral territory capped at the mid point of the range having dropped out from the ascending wedge pattern on the short term charts. Here the pair trades in no mans land, and awaits direction between key 109.00 and 109.50. Over in the US, today’s key highlights will be the Pending House Sales where markets expect further disappointments on July’s contraction with an estimate of -0.4%.

USD/JPY levels

Support levels: 109.00/15, 108.99 and 108.50

Resistance levels: 109.50, 109.80 and 110.20

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