FXstreet.com (Barcelona) - After be rebounded from the 98.25 support to the 95.80, the USD/JPY has begun to fall to break the 98.25 and go down below the 95.00 and test the 94.84 support.
USD/JPY is testing the 94.84 (38.2% Fib retracement) after falls more than 400 pips on the FOMC statement. Market is full throttle again, risk aversion has turned back.
According to Valeria Bednarik, FXstreet.com Collaborator, USD/JPY remains clearly bearish: USD/JPY has just break under the key 95.50 zone, and quickly gain momentum to the downside. Quoting around 95.15, the pair will find next support around 94.84, 38.2% retracement of the Fibonacci rally 87.10/99.98. While momentum remains clearly bearish, CCI seems a bit exhausted in 4 hours charts. Under the mentioned level, consider next supports at 94.47, the zone around 94.00 and finally 93.63.
Valeria conclude: If the pair manages to rebound in the mentioned Fibonacci level, resistances will be at 95.50 zone, 95.92 and above 96.48.