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Forex pairs in this Article » USD/JPY (Córdoba) - The USD/JPY reversed early losses and climbed back to test the 99.00 psychological level as stocks turned positive in Wall Street.

USD/JPY reverses losses

USD/JPY was rejected from the 99.20 zone and slipped to a fresh weekly low of 98.47 weighed by disappointing Richmond Fed and confidence data. However, the pair found buyers and climbed back to 99.0, despite the decline in US yields. At time of writing, USD/JPY is trading at the 98.90 zone, 0.1% above its opening price.

USD/JPY technical levels

If USD/JPY manages to regain the 99.00/05 area (psychological level/100-day SMA) net resistances could be found at 99.35 (Sep 23 high) and 99.65 (Sep 20 high). On the other hand, a decisive break below 98.50 could send the pair to 98.27 (Sep 2 low) en route towards 98.00 (psychological level).
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