FXstreet.com (Barcelona) - USD/JPY has risen around 70 pips, from 96.81 to 97.52, in the last hour. Currently, the pair is trading between the 97.45/55 range.
Today, USD/JPY is losing around 0.46% from the 98.07 opening price, reaching 98.32 as highest and 96.95 as lowest. Last hours, the pair has recovered its initially losses.
According to Valeria Bednarik, FXstreet.com collaborator, the USD/JPY remains bullish: USD/JPY appreciation continues after the strong rebound in the 200 EMA in 4 hours chart. The pair has just reached first resistance zone around 97.60, and remains bullish in this time frame. Today close above that zone, will turn to the upside daily indicators that at this moment point to further losses in bigger time frames. Long term bias should change above the 98.70 zone, where we have a daily descendant trend line coming from 99.67 high. Once that zone clear, 100.00 will be exposed.