FxWirePro- Woodies pivot (Major) 
Major Pairs Action Bias: USDCAD and USDCHF Stand Out as Extremely Bullish While GBPUSD and NZDUSD Turn Extremely Bearish 
FxWirePro: AUD/USD dips after RBA Governor speech 
FxWirePro- Major Pair levels and bias summary 
NZDJPY Pullback: Sell Rallies Toward 93.30 as Yen Weakness Eases 
FxWirePro: NZD/USD edges lower, remains on back foot 
FxWirePro: USD/ZAR uptrend loses steam, remains on bullish path 
Crypto Action Bias: ETHUSD Stands Out as the Bullish Pair to Watch 
FxWirePro: GBP/USD edges higher as traders await BoE guidance and UK fiscal clarity 
FxWirePro: GBP/AUD downside pressure builds, key support level in focus 
AUDJPY Weakness Deepens: Sell Rallies Toward 112 as Aussie Dollar Falters 
FxWirePro : USD/JPY holds relatively bid on 163 ahead Of FOMC,BoJ meetings 
FxWirePro: EUR/NZD up trend gains momentum but hurdles ahead 
EUR/JPY Holds Bullish Bias as Euro Extends Recovery 
FxWirePro: GBP/NZD gains some ground but bias is still bearish 
USD/JPY chart - Trading View
Spot Analysis:
USD/JPY was trading 0.04% lower on the day at 109.75 at around 06:20 GMT
Previous Week's High/ Low: 110.26/ 109.41
Previous Session's High/ Low: 110.26/ 109.77
Fundamental Overview:
Federal Reserve Chair Jerome Powell buoyed global risk appetite on Friday, despite signaling taper this year.
Powell refrained from offering any exact timing of tapering and indicated a gap between the taper and rate hike.
Apart from the escalating virus woes, Hurricane Ida, US-China tensions and the Western dislike for the Taliban’s ruling in Afghanistan challenge the risk sentiment.
On the data front, US Pending Home Sales for July and Dallas Fed Manufacturing Business Index for August will offer further cues during the North American session.
Technical Analysis:
- USD/JPY recovery was rejected at daily cloud on Friday, the major is extending weakness
- Price action has slipped below 200H MA, 21-EMA and 5-DMA
- GMMA indicator shows a bearish shift on the intraday charts, remains neutral on the dailies
- Oscillators are flatlined in neutral territory
Major Support and Resistance Levels:
Support - 109.51 (23.6% Fib), Resistance - 109.85 (21-EMA)
Summary: USD/JPY trades in 'Symmetric Triangle' pattern. Rejection at daily cloud and retrace below 21-EMA has raised scope for further downside. Dip till 110-EMA at 109.31 likely.
Focus on US Pending Home Sales for July and Dallas Fed Manufacturing Business Index for August for impetus.
