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Forex pairs in this Article » USD/JPY
FXstreet.com (New York) - The USD/JPY foreign exchange rate has rebounded off of an earlier bout of weakness, culminating in a steadfast recovery during US trading.

USD/JPY hard to bet against negative indicators

According to the Technical Analyst Team at ICN.com, “The USD/JPY failed to stabilize below 97.55 where we might be facing an upside attempt during this session. However, we cannot bet on the above mentioned in light of stabilizing below Linear Regression Indicators and negativity shown on the stochastic.”

USD/JPY pares losses but longer-term outlook looks promising

Following the recent uptick, the USD/JPY has settled near opening levels at 97.84, securing a marginal gain of +0.02% Wednesday. “The USD/JPY is set to reach an upside target level of 99.605 in the following 7 trading days – in accordance with the prevailing uptrend visible on the daily USD/JPY charts.” suggests Ilan Azbel at Autochartist.
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