FXstreet.com (Barcelona) - After touching the 100.00 level, the USD/JPY has fallen around 100 pips from 99.97 to 98.99, fresh two weeks low and test the 99.00 level. Currently, the pair is trading around 99.25/55 after falling 1.00% from 100.34 opening price.
Valeria Bednarik, FXstreet.com collaborator,says: Pair broke an ascendant trend line, and after completing the pullback, fell to a two-week-low at 99.16. CCI seems a bit exhausted in the hourly chart, so an upside correction could send the pair back to the 99.65 zone. Once there, break or rebound will define the rest of the day bias. 20 SMA is cutting to the downside the 200 EMA putting extra pressure in the pair. However, downside still seems limited in the term, as long as the pair remains above the 98.00 zone
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