USD/JPY Trades Within A Tight Range Ahead Of Wednesday’s BOJ Meeting

Analysis of EUR/USD, USD/JPY and USD/CHF daily charts to highlight key levels and patterns.


  • Several bearish reversal patterns have formed to mark a series of marginally lower highs.
  • Friday’s bearish engulfing candle warns of another leg lower.
  • 1.1525/37 remains key support for bulls, with a break lower exposing the 1.1300 low.

EURUSD Daily Chart


  • Compressing between two highs, USD/JPY trades within a tight range ahead of Wednesday’s BOJ meeting.
  • The series of higher swing lows favours a bullish continuation.
  • The 113 handle near the July highs makes a likely bullish target.

USDJPY Daily Chart


  • A tighter bearish channel is forming to suggest bearish momentum is increasing.
  • A bearish hammer below the 20-day average could mark a corrective high.
  • Whilst below 0.7229, a run towards 0.7085 is on the cards with the potential to break lower.

AUDUSD Daily Chart

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