USD/JPY chart - Trading View
USD/JPY was trading largely rangebound on the day at 105.72 at around 10:10 GMT.
The pair has ignored upbeat Factory Orders data overnight and keeps to narrow ranges.
US policymakers failed to agree over the much-awaited stimulus which is weighing on the US dollar index (DXY).
The US ISM Non-Manufacturing PMI and ADP Employment Change will be closely observed to gauge Friday’s key employment data.
Major bias for the pair is bearish. Recovery lacks traction and falters at stiff resistance at 21-EMA.
Resumption of weakness will see test of channel base at 103.80. Breakout at 21-EMA negates bearish bias.
Support levels - 105.47 (200H MA), 104.65 (Lower BB), 103.95 (200M MA)
Resistance levels - 106.22 (21-EMA), 106.86 (55-EMA), 107.36 (110-EMA)
