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Forex pairs in this Article » USD/JPY (New York) - The USD/JPY foreign exchange rate breaches the 98.00 barrier earlier today (98.18 session high), only to ease back below this region in recent minutes.

USD/JPY upside capped by second resistance

The USD/JPY has been in the drivers seat during the latter stages of this week, and with a renewed backing behind the USD, the pair is now trading at 97.77 or +0.49% thus far. analysts calculate the next resistances for the pair at 98.15 (session high), onto 99.17, and 100.06. On the downside, a break below the 96.23 handle will initiate support at 95.35 and 94.31.

USD/JPY to extend to 100.00 next week?

According to the Analyst team at BTMU, “After some correction seen in global and national equities, market expectation for yield gap widening looks to support dollar buying. Moreover, the correction of USD/JPY next week may be volatile, with the pair going back up to the 100-level.”
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