FXstreet.com (Barcelona) - USD/JPY has fallen around 90 pips from the 99.90, highest since November 4th, to test the 99.00 level after the US opening bell. Currently, the pair is trading around 99.30/40 band, as a 0.83% today's increases from the 98.55 opening price.
Yesterday, USD/JPY fell 0.79% from the opening price at 99.33, reaching 99.46 as maximum and 98.22 as lowest, to close at 98.54.
According to the Swiss e Trade Strategy Team, USD/JPY could see a correction movement: The dollar is about to meet an important long-term resistance zone at the 99.50 to 100.00 level against the yen. Currently trading at 99.45, we expect the upward momentum to run out of steam in today's market and see a downward correction to the 98.50 mark.