Since August 7, the Japanese Yen has traded southbound against the U.S. Dollar in a clean fashion with identifiable resistance being formed. On at least three occasions, price-action has hit this identified ceiling. It appears as now as though the pair may hit a wall for the fourth time. Located at 94.50, resistance appears to be only 25 pips away from the current price of 94.25. The slow stochastic oscillator indicates that momentum continues to be to the upside, but may fade once reaching the so-called ‘overbought’-80 level.
