USD/JPY well supported at 97.00

FXstreet.com (Edinburgh) - The USD/JPY remains within 97.00 and 97.30 on Friday, against the backdrop of a firmer tone from the greenback despite the lack of news regarding the US shutdown.

USD/JPY hurt by dollar weakness

The pair is giving ground for the second consecutive week after failing to convincingly follow through the triple-digit resistance in early September, helped by the generalized selling tone around the greenback. In another tone, the BoJ left its monetary policy unchanged in today’s meeting, broadly in line with market expectations. Stoyan Mihaylov, Analyst at DeltaStock.com, noted “Current rebound above 97.13 low should be considered corrective in nature, thus preceding next leg downward, to 95.75 support zone. Crucial on the upside is 98.71 high. Initial intraday support is projected at 97.50”.

USD/JPY levels to watch

The pair is now losing 0.13% at 97.13 with the next support at 96.81 (low Aug.28) followed by 96.63 (MA200d) and then 95.92 (low Aug.12). On the flip side, a break above 97.41 (high Oct.4) would target 97.88 (high Oct.3) and finally 97.93 (cloud base).