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Forex: USD/JPY extends recover and trade above the 93.50 level

FXstreet.com (San Francisco) - The US dollar is trading higher today against the Japanese yen with the USD/JPY rising around 100 pips from the bottom of 92.55 reached in the Asian session and breaking above the 93.40 resistance and trading at intra-day highs at 93.55

Currently the USD/JPY is pricing at 93.50, 0.28% above opening price. The pair is slightly bullish according to the FXstreet.com forex studies. Indicators such as CCI and Momentum are bullish while the MACD is neutral and the Stochastic is pointing bearish in the 1-hour chart.

Above the 93.50 level, 93.90 zone is the next resistance ahead of the 94.40 frontier. Onthe downside, supports are at 93.40, 93.00 and 92.55.

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