Forex: USD/JPY still trading negatively at 84.15/16

FXstreet.com (Barcelona) - The USDJPY has been one of todays more active movers, ranging 60 pips (83.86 intraday minimum, 84.46 intraday maximum) thus far Friday. While the pair has rebounded off its session low and regained the 84.00 level, the cross has yet to establish any continuity as it currently trades at 84.15/16 during the afternoon of European trading.

"The USDJPY has a bearish bias - we have a Bearish Harami confirming market direction proximity to a moderate support level, suggesting we should wait for a close below 84.00 before jumping short." warns Mark De La Paz, an analyst at FX Instructor.

Presently, the cross has incurred a marginal loss of -0.27% below its opening. De La Paz cites the next supports at 84.00 (key retracement barrier) followed by 83.63 onto 83.31. On the ascension, the USDJPY will face calculated resistance at 84.23, 84.60, and 84.82.