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USD/JPY eases off highs to 102.16/17

FXstreet.com (Barcelona) - The USD/JPY rally continued virtually unabated to the 102.35 level (session high) in recent moments, which capped the movement temporarily, easing the pair slightly back.

Despite this recent fall from session highs, the USD/JPY is still recording a robust gain of 1.20% after settling at 102.16/17 at the time of writing. After climbing above the 102.01 resistance, the Mataf.net analyst team identifies the next means of correction at 102.44, followed by 103.07. On the decline, a break below 100.95 will foster supportive structures at 100.32 and 99.99.

According to the Danske Analyst Team, “The USD/JPY has corrected higher overnight from 101 to currently present levels, and while it probably is too early to call the end of the correction lower in Japanese equities, we still expect USD/JPY to trade in the range of 98 to 105 in the coming months.”

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