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The USD/JPY sieges the 117.00

FXStreet (San Francisco) - The USD/JPY is recovering its mojo after failing to reach a higher high above 117.00 and following a 70-pip decline, the pair found buying interest at 116.30 which sent it back to maximums.

Currently, USD/JPY is trading at 116.92, up 0.41% on the day, having posted a daily high at 117.06 and low at 116.34. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.

USD/JPY sentiment

Valeria Bednarik from FXStreet says that "having traded in the higher half of Monday’s range, the short term picture shows a mild positive tone, with indicators above their midlines yet lacking strength, while 100 and 200 SMAs head strongly up well below current price."

If the pair extends advance above 117.00, it will face next supports at 117.45 and 117.85. To the downside, supports are at 116.50, 116.30 and 115.50.

EUR/USD on the verge of making a recovery?

Valeria Bednarik, chief analyst at FXStreet noted the price action around the EUR/USD and offers a short-term technical analyses that eludes to a possible break higher.
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