The USD/JPY pair has bounced from its support zone on a 30 minute time frame as predicted. This support zone was given in our analysis on 26th of August. The price has broken the upward channel which confirms that the upward trend has become weaker. Moreover, the price is trading below the 50 day (shown in green) but above the 100 day (shown in yellow) moving averages which is a further confirmation of the above argument. The volatility for the pair remains low as the price is trading within the Bollinger band and close to its 20 day moving averages.
The RSI is trading inline with the price action which means that the bias could be to the downside.