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Forex: USD/JPY establishes fresh session highs at 93.46/47

The USD/JPY has shot higher during European trading Wednesday, after bottoming out at 93.00 (session low) earlier today during the overnight session. In these moments the pair is now recording fresh session highs at 93.46/47, advancing +0.14% above its opening.

According the Technical Analyst Team at ICN.com, “The USD/JPY is trading in a narrow range below the broken ascending channel key support. We think that the bearish move is valid today with stability below 93.85. A breakout below Linear Regression Indicator 55 residing at 92.80 will also support negativity.”

ICN.com identify the next resistances at the 93.65 level, onto 93.85, and finally 93.80. On the decline, a break below the 93.00 supportive barrier will trigger additional means of correction at 92.80 and 92.50.

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