USD/JPY still caught within key near-term levels for now

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USD/JPY still caught within key near-term levels for now

<p style="" class="text-align-justify">The tilt lower in the dollar comes as we see <a href="https://www.forexlive.com/news/euro-looks-to-come-up-for-air-20220912/" target="_blank">the euro come up for air</a>, jumping to its highest level in nearly four weeks. USD/JPY hit a high of 143.49 earlier but has since retreated to 142.80 - still up 0.2% on the day though.</p><p style="" class="text-align-justify">The yen remains in a tough spot despite pushing back when the pair ran up against resistance near 145.00 last week. The BOJ continues to remain the only major central bank not in the mood to shift monetary policy and that is still a critical headwind for the currency.</p><p style="" class="text-align-justify">But for today, the drop above comes as USD/JPY also meets resistance from its 100-hour moving average (red line):</p><p style="" class="text-align-justify">Price action remains caught in between that and the 200-hour moving average (blue line) at 141.53 currently and that lays out the technical range for the pair at the moment.</p>

                This article was written by Justin Low at forexlive.com.

Source: USD/JPY still caught within key near-term levels for now

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