After posting the highest close of the uptrend on Tuesday, the September Japanese yen futures start marginally higher in an inside range in the US. It had climbed to a 15-year high last Tuesday. The short-term outlook is sideways with downside risk. The medium-term outlook is bullish.

Initial support is at 118.42. The next floors are 118.03 and 117.65. The 21-day moving average follows at 117.30. Monday' s low is 116.41. Tuesday' s high is 119.31. The top of the uptrend is 119.66. Distant resistance is at 120.57.