FXstreet.com (Barcelona) - The USD/JPY has extended losses during Thursday's Asian session, from session lows of about 97.30, the Dollar has climbed up to a maximum of 97.98 and the pair has tried to break the 98.00 resistance level, although it has not happened yet, and the Dollar has setback some pips towards the 97.80 area.
The cross advanced under a defined bullish pressure, and the cross will most likely break 98.00 resistance rather than dropping below 97.00, According to the Mataf.net Technical Team, the Dollar could test 99.0 today: USD JPY is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The price should find a support above 97,00 (69 pips). The uptrend should continue on 99,00 resistance (131 pips).