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Forex pairs in this Article » USD/JPY (London) - USD/JPY has opened in the European session back up in territory of 97.70

USD/JPY had eventually reached a high of 98.34 after the FOMC announcements but couldn’t hold on and dropped 80 pips in NY. The pair is moving back up the scale within a 70 pip range. The calendar is exceptionally quiet for the pair today.

USD/JPY looking bullish

USD/JPY is back in bullish territory and eyeing the psychological figure of 98.00, trading above the pivot, although without much I the way of momentum. Short term Ma’s are printing an upside bias. Karen Jones of Commerzbank said that only an unexpected rise above the resistance line at 98.72 would neutralise their outlook and imply another test of the 103.74 May high. They note that the 20 and 55 day moving averages have crossed over and these offer additional resistance above the market at 98.32/99.17.
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