USD/JPY chart - Trading View
USD/JPY was extending previous session's marginal gains, but lacks firm directional bias.
The major was trading 0.05% higher on the day at 104.20 at around 07:15 GMT, after closing 0.09% higher in the previous session.
Improved market mood undermined the safe-haven JPY, extending minor support to the pair.
Major trend for the pair as evidenced by the GMMA is bearish. Upside finds stiff resistance at 21-EMA at 104.28.
Volatility is shrinking, ADX does not support gains and momentum indicators are flat. Bias for the pair is neutral, tilted more to the downside.
With no major market-moving economic data due for release from the US on Wednesday, broader market risk sentiment will influence price dynamics.
