Yen trapped between 94.00 and 94.40

USD/JPY Current Price: 94.23. Trapped between 94.00 and 94.40 zone, hourly indicators hold the bearish bias, while 20 SMA still has a bearish slope despite current candle opening above it. Bigger time frames also support further falls in the pair, with 93.66, weekly low as key support.

“Once this zone gives up downside momentum will likely accelerate and send the pair to the 93.20 zone, ahead of stronger 92.80 level,” said

Support levels: 94.00 93.70 93.20. Resistance levels: 94.25 94.55 94.80.