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Forex pairs in this Article » USD/JPY (Córdoba) - The USD/JPY has moved only marginally higher during the American session, with the latest string of US data having little impact on the pair.

USD/JPY reached a marginal new high at 99.84, last seen Jun 5, and retreated as the greenback lost momentum across the board. At time of writing, USD/JPY is trading at the 99.60/65 zone, still up 0.4% on the day.

USD/JPY eyes 100.00

From a technical perspective, "the way is open towards psychological 100.00 barrier and next upside target, with positive near-term studies supporting the notion", says the Windsor Brokers Analysis Team. "However, hesitation on approach may delay bulls, as overbought conditions suggest consolidative/corrective action preceding fresh rally".

"Previous barriers at 99.27 and 98.70, with the latter being reinforced by 20 day EMA, offer initial supports and should contain dips, while only break below 97.00 handle would turn near-term structure negative", they add.
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