FXStreet (Guatemala) - USD/JPY is currently trading at 119.75 with a high of 120.09 and a low of 119.54. USD/JPY remains under pressure below the 20 DMA at 120.09 today, while a break out could be imminent this month, but unlikely to offer much conviction until there is some clarity on the FOMC's position on interest rates and indeed until the markets make up their mind in respect to the BoJ's own position on the economy. While the BoJ claim that they are satisfied with the way the economy is moving and how the QQE programme is having the intended effects, participants in the market continue to place bets that the BoJ will need to expand their QQE programme, possibly as soon as the additional October meeting at the end of the month. USD/JPY this week Meanwhile, the Yen will foster support on risk-off markets that we have been trading in recent sessions with the Chinese trade data disappointing and setting off a sell-off. We will look to the US data flows this week as well, keeping an ear on the Fed chat as well that, so far, have all been suggesting a rate hike is likely before the year is out, although October too soon as data needs to improve still. Retails sales, CPI and industrial production are all key for the remainder of the week for the US. USD/JPY key range The range to monitor for a break out stays with 118.60 and JPY121.60 with the four-month level at 125.40 and the August 24, lows of 116.20. For more information, read our latest forex news.