FXstreet.com (Barcelona) - USD/JPY has risen around 75 pips in the early American morning from 97.83 to the currently 98.60. Today the pair has won 0.80% from the opening price at 97.79.
According to Valeria Bednarik, FXstreet.com collaborator, USD/JPY is bearish: Still bearish, the pair is unable to regain the 98.40/80 zone, that defended the bullish bias past days. With momentum and CCI clearly to the downside, clear movements under today's low of 97.65 will send the pair to test the 97.20 zone. Price continues under the 20 SMA and moving further away of the 200 EMA, supporting the downside continuation. Bigger time frames also are tending lower.
Bednarik provides us with her levels: Support levels: 97.65 97.20 96.82. Resistance levels: 98.15 98.45 98.80
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