FXstreet.com (Barcelona) - USD/JPY has fallen around 60 pips from 99.06 to 98.48, in the early American session, to be traded below the 98.60 level. Since the European morning, the pair has been traded in a small range between 99.80/99.20.
Today, USD/JPY has fallen around 0.70% from the 99.33 opening price to the currently 98.55/65 band. The pair has posted 99.33 as today's highest and 98.22 as minimum.
Yesterday, USD/JPY rose 1.96% from the 97.42 opening price to closed at 99.36, reaching 99.36 as maximum and 97.39 as lowest.
According to Valeria Bednarik, FXstreet.com colaborator: USD/JPY has failed to hold the 99.00 level: Failure to hold the 99.00 level is turning the pair bearish in hourly charts. 20 SMA has turned to the downside, while Momentum and CCI clearly point for further losses in the next hours. Confirmation will come under today's low at 98.22. Volume is low for now. Still larger time frames shown actual movement as a correction of previous day's strength.
Valeria provide us with her levels: Support levels: 98.20 97.67 97.20. Resistance levels: 98.80 99.28 99.67.