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Forex pairs in this Article » USD/JPY (San Francisco) - After climbing around 50 pips in the early American session to test the 98.00 area, the USD/JPY has been rejected at this level with the pair trading back to the 97.80 area.

The Dollar is currently trading weak as the ECB's official Nowotny said the ECB has no tools to fight against the strong Euro. Nowotny’s comment sent the EUR/USD up and the dollar down overall.

USD/JPY technicals

Currently, the USD/JPY is pricing at 97.85, 0.20% positive on the day. The short term perspective is slightly bullish according to the trend index in the 1-hour chart. Indicators such as Momentum, CCI and MACD are pointing to the north while the stochastic is bearish.

On the downside, the USD/JPY would face supports at 97.80, 97.70 and 97.50. On the upside, the pair has resistances at 98.00, 98.20 and 98.50.
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