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Forex: USD/JPY breaks below 94.20 and heads to 94.00

FXstreet.com (San Francisco) - After falling around 90 pips from 94.90 in the last couple of hours, the USD/JPY has broken down the 94.20 level and it is heading to test the 94.00 frontier. Currently the pair is trading at 94.05.

With 1.20% declines on the day, the pair is slightly bearish according to the FXstreet.com Forex Studies. Indicators such as MACD, CC and Momentum are pointing bearish while the Stochastic is bullish in the 1-hour time frame. Below the 94.00, next supports are at 93.65 and 93.00.

On the upside, resistances are at 94.20, 94.90/95.00 zone and 95.40.

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