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Forex pairs in this Article » USD/JPY (Barcelona) - USD/JPY has unraveled its tight 15 pips consolidation above 97.00, which came on the back of a failed breakout below the round number earlier in Tokyo, to currently trade with strong bullish momentum above 97.30 resistance.

Yen follows Nikkei's tail

The catalyst for the rise in the pair came from the Nikkei 225, which rebounded with vigor moving from below 2% for the day to now trade at -1.4%. No headlines were reported for the latest take off on the index.

Next resistance 97.50

On the way up, USD/JPY faces now 97.45-50 zone, which converges with the 50% fib from 95.81-99.15. A break higher may see the recovery extend towards 97.65/70 - Aug 27 swing low - where more offers are expected.
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