Filed Under:
Forex pairs in this Article » USD/JPY
FXstreet.com (New York) - The USD/JPY foreign exchange rate bounce off a low of 97.96 (intraday low) Friday, rebounding back above the 98.00 level during US trading.

At the time of writing, the USD/JPY is now settling near 98.22, presently declining at a rate of -1.06% off its opening during US trading. Technically speaking, the USD/JPY is trading at the 98.20 support and will encounter additional means of correction at 97.75, calculates the Danske Research team.

USD/JPY strategic bias

According to the Technical Analyst Team at ICN.com, “The USD/JPY has sold off to the top of its cloud support at 98.75 and the risk has increased that we will see losses to the base of the cloud at 97.63. Failure here will leave the market under pressure and likely to slide back to 96.75/95.40 en route to the 93.75 recent low.”
comments powered by Disqus