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Forex: USD/JPY stalls below 94.40 on soft Tankan

FXstreet.com (Barcelona) - USD/JPY is last at 94.28 off recent session highs at 94.38, in the back of soft Japan Tankan data in pretty much all surveys, while Nikkei index opens below the 12400 points mark, down -0.15% for the day. The pair is still slightly higher for the session, coming from previous weekly close Friday at 94.19.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The USD/JPY presents a short term bullish tone, with price struggling to overcome 100 SMA in the hourly chart, while indicators gain positive ground above their midlines,” the analyst says, adding: “to the upside sellers had been aligned around 94.40/50, so only steady gains above will  favor further recoveries today,” she concludes.

Valeria finds support levels at: 93.90, 93.50 and 93.20, while resistance levels at: 94.45, 94.85 and 95.10.

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