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Forex: USD/JPY rises to 95.30 area

FXstreet.com (Barcelona) - The USD/JPY first fell below the 95.00 handle to score a low at 94.83. Then, recovery fully retraced losses and has been sending the pair higher as the European opening gets closer. The market trades at 95.31 high.

The “Cyprus issue” that jittered the markets since the weekend was rejected by the Parliament, with not even one vote in favor, but the ECB announced it will be providing liquidity as needed within the existing rules. Japan is closed for holiday.

UBS analysts note that the bullish trend persists: “Resistance is at 96.71, a break above would open 97.79. Support is at 93.57/11”, wrote analyst Gareth Berry.

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