FXstreet.com (Barcelona) - The Dollar has been favoured by a weaker than expected employment report and the pair has returned above 97.00, after a continuous decline from 99.50.
Succesful advance below 97.00, would put the pair on the track towards 96.35, and once below here the Dollar would have 94.90 support level on sight.
On the upside, first resistance line comes at 97.75, above here 98.50 (Feb 26 high) and above here 98.90. On the downside, next support levels come at 96.40, and below tere 94 92, before what it seems to be a critical support level at 94.64 (Jan 6 high.)
Nick Nasad, currency market analyst with CMS Forex, contemplates the USD/JPY decline as a corrective move: Usd/jpy has been a very interesting pair in that for a stretch (between feb 5th and march 3rd) we saw the dollar rallying strongly against the Yen as a result of the weak Japanese economy that decouled teh YEn from movements in equity markets. But some judge that that climb has been too steep and we need some kind of correction. That is shoing in price action now as the yen has rallied the past two sessions, dropping from 99.70 to 97