FXstreet.com (Barcelona) - The Yen has taken back some ground during Friday's Asian session sending the Dollar below several pips below 98.00 support line. USD/JPY fell from 98.73, session high, to a low of 97.32, despite record drop in Japanese industrial production.
Nevertheless, the Dollar seems to have found support at 97.33 and is setting an expedition towards 98.00 resistance. According to Per-Erik Karlsson, technical analyst at Avantage Financial GMBH, retracement does not seem strong enough, and the pair continues pointing upwards: The retracement of that 97.40 key resistance was very small as the buyers have been pushing it strongly ever since the break above 94.62 Tuesday. Next target is now 100.54 level. The former overhead resistance at 96.24 today acts as minor support today