FXstreet.com (Barcelona) - The USD/JPY is rallying again in the American session after be almost flat along the Asian and European session. The pair has risen around 70 pips last hour from 97.85 to reach the 98.55. high since November 10.
If the Dollar remains above 98.00 it could attempt to test resistance at 99.0 and above there, 99.57 before reaching 100.00 psychological level. Rejection from 98.00 could trigger a correction move towards 97.35 first and below there 96.45.
According to Mataf.net Team, the USD/JPY uptrend should continue on 100.00 resistance: 97,78. USD JPY is in an uptrend supported by 1H exponential moving averages. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The uptrend should continue on 100,00 resistance (222 pips).