FXstreet.com (Barcelona) - USD/JPY decline from 99.50 resistance line extends further in European trading times, as the Dollar ais on a serious attempt to break below 97.00 support level.

Successful advance below 97.00, would put the pair on 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.

According to Stoyan Mihailov, Technical analyst at Deltastock.com, 94.64 is a key level to observe on the downside: The impulsive nature of the slide from 99.69 clearly states, that a significant top has been set at that peak, so expect a break below 96.83 to target the important support at 94.64. Crucial on the upside is 98.50.