FXstreet.com (Barcelona) - After reaching 3-weeks high at 99.80 in the early American morning, the USD/JPY has fallen around 100 pips to reach the 98.85 level and test 98.80 support level. Currently the pair is trading below the 99.00 after rising 0.30% so far today from opening price.
Valeria Bednarik, FXstreet.com collaborator, says: Again pair failed to break above the 99.60 zone, and quickly come back. Pair accomplished channel target, now not useful. Hourly charts are suggesting some downside movements for the next hours, with bearish indicators and a previous reversal candle. Bigger charts, remain clearly bullish. Support levels: 99.10 98.80 98.50. Resistance levels: 99.28 99.65 100.00.
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