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Forex: USD/JPY dips to session lows post-BoJ minutes

With BoJ minutes just released, on an upbeat tone, and Japanese officials making statements related to uncertainty in selecting next BoJ governor, USD/JPY had a small hit printing fresh session lows at 93.58, last at 93.71, retracing from yesterday's weekly highs at 94.22, leaving the pair almost flat for the week so far. Nikkei index opens down -0.63%.

As Valeria Bednarik, Chief Analyst at Fxstreet.com states: “The lack of volume has left short term charts’ readings neutral, but in the 4 hours chart the pair presents a bullish stance, which helps prevent slides along with buying interest,” the analyst notes, adding: “Approaches to 93.50 yet failure to break below will probably anticipate an advance back towards 94.50 area, while once above there’s scope for a test of the 95.00 price zone,” she concludes.

Valeria locates support levels at: 93.50, 93.10 and 92.60, while resistance levels at: 94.15, 94.50 and 94.90.

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