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USD/JPY falls to 100.23/24

FXstreet.com (Barcelona) - The USD/JPY recovery was capped at the 100.45 level earlier today, in what has now given way to an extension of the downside during US trading Monday.

Briefing the technicals, the pair is operating at -0.22% in these moments at 100.23/24. The latest action pits the USD/JPY in negative territory, eventually facing supports at 100.03, ahead of 99.59, and finally 98.97. Alternatively, a movement higher will usher in resistance 101.09, then 101.71, and finally 102.15, calculates the Mataf.net analyst team.

According to the Technical Analyst Team at ICN.com, “The bearish correction brought the USD/JPY closer to 99.85 levels but negative signals are still dominate, with negativity on Linear Regression Indicators and RSI trading below 50. Trading below 102.50 is negative while stability below 101.70 add to bearish pressures, likely to test 99.85 levels; a break of which might extend the correctional downside move.”

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