USD/JPY (a 4-hour chart)
The yen strengthened against the dollar following the Foreign Reserves report for August. Weaker-than-expected figures diminished the possible policy softening in September.
USD/JPY’s outlook has shifted to neutral from bearish. The instrument stays at the recent lows. The 50-EMA bounced from the 200-EMA in the 4 hours chart. The 50, 100 and 200 EMAs are turning down in the same chart. The resistance is at 102.50, the support comes in at 101.40.
MACD entered the negative area. MACD decreased which confirms the strength of sellers. RSI remains within negative territory.
The pair remains in red figures. Any rebound above 101.40 should be considered corrective. The USD/JPY may grow up to the 102.15 region where the 200-EMA may limit its further growth. The levels 101.40 and 100.40 are the next sellers’ targets.