FXstreet.com (Barcelona) - USD/JPY has returned to levels below 99.00 after worse than expected U.S ADP data, reaching 98.50 level shortly after figures were published. Nevertheless, the downside reaction does not seems to be too strong., and so far the pair remains close to the 98.85 area.

According to Mohammed Isah, technical analyst at FXTechstrategy, the Dollar could rise towards 99.70, Mar 5 high: A build up on that upside should see the pair aiming at the 99.68 level and possibly invalidating that level to resume its short term uptrend initiated at the 87.13 area towards its psycho level/ Nov 04'08 high at 100.00/55 enroute to the 102.42 level, its Oct 20'09 high.