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Forex: USD/JPY consolidates below 99.00

FXstreet.com (Córdoba) - Despite Friday's NFP lackluster data, the USD has continued to strengthen against the yen, having reached a 4-year high during the European session as the BoJ embarks on bold stimulus plan.

USD/JPY touched the 99.00 mark on Monday, printing its highest level since June 2009, although it lost momentum afterward and pulled back slightly to settle in a range. At time of writing, USD/JPY is trading around 98.65, still up 0.9% on the day.

In terms of technical levels, if the USD/JPY manages to break above 99.00, next resistances are seen at the 99.60/80 zone and the major 100.00 level. On the other hand, supports could be found at 98.05/00, 97.30 and 97.00.

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