FXstreet.com (Barcelona) - After finding support at 98.15, in the Asian session, the USD/JPY has rising along the European and American session to reach the 99.66, intra-day high. Currently, the pair is trading around 99.40/60 after rising around 0.45% from today's opening price at 99.02.
According to Valeria Bednarik, FXstreet.com Collaborator, USD/JPY is bearish: The 20SMA/200SMA Hourly Bearish Cross significantly holds Bearish Momentum in place as any Upside Counter-Trend Correction is likely capped @ the Confluence of 98.82 with RSI Reading of 45 supporting this View. Daily Dynamic Resistance/98.86 20SMA.Downside Risk is in favor with Daily Static Support @ 98.22 followed by 97.84 and 97.41. Further Depreciation sees the 97.00 Handle to invalidate the previous Swing Upleg and see Downleg Completion. A Breach of 98.22 bring a cross of the Daily Pivot @ 99.31 followed by 99.61 Dynamic Resistance. Static Resistance @ 99.91 sees the 100.00 Handle in View followed by the Hourly 200SMA @ 100.12.
Valeria provides us with her levels: SUPPORT: 98.43 98.04 97.84 97.39.RESISTANCE: 99.31 99.65 99.98 100.12 200SMA 100.46
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