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USD/JPY is trading at 107.18, down -0.15% on the day, having posted a daily high at 107.38 and low at 107.01.

USD/JPY remains steady in a tight range on a light calendar for the pair ahead but attention in Asia looks to the Bank of Japan Governor Haruhiko Kuroda who will talk at a press conference about monetary policies in Tokyo. Meanwhile, Valeria Bednarik, Chief analyst at FXStreet explains that the tight range however has left the short term picture with a quite neutral stance, as per indicators horizontal around their midlines. “100 SMA stands now at 106.90 acting as first probable intraday support, while 200 SMA is way below at 106.20, the line in the sand in case of a bearish acceleration in the pair, as only below it current bullish trend may suffer”.

USD/JPY support resistance levels
Support levels: 106.80 106.50 106.10

Resistance levels: 107.40 107.90 108.20
Chris Capre, Founder at 2ndSkies Forex, shares his take on GBP/USD, noting that bears are likely to be awaiting higher up to sell with their larger orders ahead of the Scottish referendum.

"For the last several days, the Cable has been unable to break above the 1.6275 near term resistance. This is a key role reversal level short term. It should be noted bulls are consolidating near this level, with sellers yet to push back heavy."

"My sense is they are waiting higher up to sell with their larger orders, while having some small orders parked here."

"For now, this level is key, and price action is likely to be tight absent any news about the latest Scottish poll results."

"If 1.6275 breaks, then a trip to 1.6440 is the next upside target for the bulls. For bears, they will attempt to target 1.6150/60 near term, but again - all hinges upon the Scottish vote."
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