FXstreet.com (Barcelona) - Recovery from 97.10 low ht yesterday has extended above 98.00 this morning, and the pair advances higher towards 98.40 (25 Mar high).

On the hourly charts, the USD/JPY shows a slightly bullish trend, and the pair trades exponential moving averages. On its way up, 98.40 (25 Mar high) is the closest resistance level, and above here, 98.85/99 (Mar 17 high) if the Dollar jumps above here, 99.70 (Mar 5 high) will be on sight.

A downward reaction below 98.00 would set 97.45 intra-day low as the closest support level, and below there the 97.00/96.85. Once below here, next support lies at 96.55.

According to Stoyan Mihaylov, technical analyst at Deltastock.com the Yen could reach above 100,.00 rather than returning below 97.00: Probably yesterday's low at 96.98 is the lowest level, that we'll see before advancing towards 101.13, so keep an eye on the 98.56 resistance, 'cause a clear break beyond that level will target directly 99.69, en route to 101.13.