FXstreet.com (Barcelona) - USD/JPY has risen around 90 pips after the US opening bell, from 98.24 to 99.15, and it is reaching a fresh three weeks after breaks the 99.00 level. Along today's session, the pair has risen around 1.60% from the 97.42 opening price.
Currently, the pair is trading around 98.90/99.10 band.
According to Valeria Bednarik, USD/JPY continues moving upwards: USD/JPY continues pushing higher and giving signals for further gains in 4 hours charts. The pair has an important congestion zone around 98.70/85, formed both by maximums and a descendant trend line, yet indicators point for further upside continuation, with momentum and CCI cutting their medium lines and still strong. A confirmation above the mentioned level, could send the pair to test this year high at 99.67, followed by 100.00 key level, and above 100.60, stronger resistance that should contain the pair in the first attempt. Failure to break above mentioned 98.70/85 zone, could send the pair back to the downside, although losses should be limited. Supports lie at 98.10, 97.70 zone and 97.38.