Following such developments as:

• the reports of the Bank of Japan discussing the possibility of scaling back their accommodative monetary policy
• the news of Chinese stimulus (related to tariffs and trade war)

the Japanese Yen future is trading at a number of key levels, pictured in the chart below.

While this fundamental shift is noteworthy, so is the corresponding price action from a technical standpoint.  As of Wednesday afternoon, the September Yen futures contract was trading around 0.0090540.  Also noteworthy is the 0.009050 level which was also the level of the lows earlier in the month and the highs from the 10^th to the 22^nd.

The market’s trading has also broken above the trendline from the June 25^th high and the high on the 22^nd of this month.  While the highs of today and the 22^nd could form a double top, in light of the fundamental developments, broken longer term trendline and intact trendline from the July 19^th low, it is more likely that the lows from the 23^rd until today are forming a sloppy double bottom.

Japanese Yen Sep ’18 240min Chart