The USD/JPY currency pair might fall in the medium term, according to the daily and weekly chart. The price is below EMA 50 and this indicates a start of a downtrend. The RSI oscillator is also below 50 on the daily chart.
According to the weekly chart, the price might reach EMA 50 (110.07), in order to form a double bottom at 104.70 in the long term.
Fed might leave rates unchanged next month. Moreover, Japan's Central Bank is unlikely to make any change to its monetary policy given the weak inflation outlook, most analysts said.
The most important data of this week:
Fed Hosts Annual Jackson Hole Central Banking Symposium