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Forex: USD/JPY advances toward 94.50

FXstreet.com (San Francisco) - The Dollar is currently trading higher against the Japanese Yen and after bouncing at 94.00, the pair has managed to recover ground and rise towards the 94.50 level. Currently the pair is trading at 94.45.

With 0.11% declines on the day, the USD/JPY is strongly bearish according to the FXstreet.com forex studies. MACD, Momentum and CCI indicators are bearish while the Stochastic is neutral in the 1-hour chart.

Above the 94.50 level, next resistances are at 94.90 and 95.00. On the down side, supports are at 94.00, 93.85 and 93.50.

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