FXstreet.com (Barcelona) - USD/JPY has risen around 75 pips from 97.59, fresh April low, to 98.33 after the US opening bell. Currently the pair is trading around 98.15/25 after losing 0.35% so far today from opening price at 98.53.
Yesterday, pair won 0.79% from opening price at 97.79, reaching 98.91 as maximum and 97.73 as minimum, to close the day at 98.53.
Valeria Bednarik, FXstreet.com collaborator, says: Despite the strong upside trend Japanese Yen was developing as safe-haven, optimism and rising stocks send the major down against dollar and euro. Dollar/Yen now around 98.20, needs to break the 98.40/60 zone to regain bullish momentum. Euro/Yen seems clearer bullish with first resistance around 128.10. Clear break above that level, could send the pair to the 128.90 zone. 127.20 level should hold the downside to keep the bullish bias intact.
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