FXstreet.com (Barcelona) - USD/JPY has Slumped 1,0% so far today from opening price at 99.32 to reach a fresh intra-day low at 98.22. Currently, the pair is trading around 98.30/40.
Last week, USD/JPY lost 1.18% from the Monday opening price at 100.42, reaching 100.72 as maximum and 98.15 as minimum, to close the week at 99.24 on Friday.
According to Valeria Bednarik, FXstreet.com collaborator, USD/JPY remains in range: Despite some bearish tone the pair remains in past days range, still unable to confirm a certain bias for the week. Hourly charts remain bearish, as long as the pair remains under the 98.80/99.00 zone, that the pair needs to regain to show some upside momentum. Under 98.16, past week low, bias will turn clearly to the downside, and next important support will lie at 97.60 zone.
Bednarik provides us with her levels: Support levels: 98.16 97.60 97.10. Resistance levels: 98.76 99.00 99.37
For more information, read our latest forex news.