Yen is consolidating ahead of speech of BOJ Governor today at 04:00 GMT. At the beginning of Asia session, USD/JPY was weakened 0.10% at 100.22.

Market’s focus today is at speech of BOJ Governor, Haruhiko Kuroda today. On the other hand, Japan manufacturing activity report was released earlier. Japan Flash Manufacturing PMI is 49.6 in August.

Technical Analysis:

USD/JPY is testing intraday support area at 99.914-99.531. Note that the intraday bias is neutral, however if you want to trade today I suggest you to wait for buy signal confirmaton within/around the support area with target at 100.343 and 100.772 in extension.

Be careful if the support at 99.531 breaks because it will turn the intraday bias into bearish and potentiallly will push the pair down to 99.155-98.890.

Trading Plan:

Buy on bullish signal confirmation within/around 99.914-99.531; S/L @ 99.450, T/P @ 100.343 or 100.772


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