FXstreet.com (Barcelona) - The USD/JPY rose as Japan posted its first current-account deficit since 1996. The pair's previous safe-haven status was further eroded today as stocks fell but the pair rose. The USD/JPY is in a well-defined trading channel.
The relative strength index shows the pair is overbought and may need some consolidation, said Hans Nilsson, analyst at CMS Forex. There may be a test of the support from the lower trading band before moving through the 100-area resistance. Support exists in the 97-area.