FXstreet.com (Barcelona) - USD/JPY has risen around 50 pips last hour to be above the 99.00 level and recover some ground from the initial losses. Currently the pair is trading around 99.00/10, losing 0.21% from today's opening price at 99.28.
Valeria Bednarik, FXstreet.com collaborator, says: Pair continues struggling around the 99.00 zone, without defining a certain trend. Indicators have turn bullish in the hourly, after reaching an intra-day low of 98.50. With 20 SMA around 99.05, a candle opening above it could send the pair back to the key 99.40 zone, that's acting that static resistance since past Tuesday. Around that zone, we also have a short term descendant trend line, that will contain the upside at least in the first attempt. Clear break above needs to be seen to trigger some bullish momentum in the pair
Valeria provides us her today's levels: Support levels: 98.80 98.50 98.15. Resistance levels: 99.35 99.66 99.90.
For more information, read our latest forex news.