FXstreet.com (Barcelona) - After founding support at 9596 in the early European session, the USD/JPY has risen to test the 97.00 level several times in the last hours. Currently, the pair is trading around 96.85/95.
Today, USD/JPY is losing around 1.02% from the 98.07 opening price, reaching 98.32 as highest and 96.95 as lowest. Last hours, the pair has been traded between the 96.70/97.00 small channel.
According to Valeria Bendarik, FXstreet.com collaborator, USD/JPY has found support at 96,00: Bearish momentum found a floor around 96.00 level, and the pair began a nice recovery. Hourly indicators point for a bullish continuation but lost steam. Watch for a confirmation above 97.10. Bigger time frames diverge from hourly chart, suggesting further losses in the pair. Price remains under moving averages.
Bednarik provides us with her levels: Support levels: 97.10 97.60 98.00. Resistance levels: 96.45 95.94 95.50.