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USD/JPY testing resistance at 102.85/90

FXstreet.com (Barcelona) - The USD/JPY has rallied higher Tuesday, continuing the bullish upside many had hoped for en route to session highs at 102.85/90 in these moments during US trading.

According to the Mataf.net analyst team, the USD/JPY will look to eventually test resistive levels at 102.94, onto 103.33, and finally 103.77. Alternatively, a paring of recent gains will drive the cross towards supports at 102.11, then 101.67, ahead of 101.28.

“Despite the slight downside bias and negative signals on the stochastic, we find the pair stable above Linear Regression Indicators indicating the extension of the upside move. Intraday trading above 101.70 keeps the possibility of bullishness valid, and since the pair is stable above it then we will hold on to our positive expectations.” notes the ICN.com Technical Analyst team.

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