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Forex: USD/JPY cannot overtake 98.00 level

FXstreet.com (Barcelona) - The USD/JPY cannot seem to summit the 98.00 level Tuesday, after peaking briefly at 97.92 (session high) in recent moments. Though the pair cannot seem to overtake this mark, the cross is securing a sizable advance of +1.07%, while settling at 97.77/79 at the time of writing.

“The USD/JPY dropped sharply yesterday but is trading again around Linear Regression Indicators that is showing a positive bias. Meanwhile, the stochastic is also trying to achieve a positive cross over in oversold areas. However, an upside rebound is possible today and might trigger another bearish wave.” warns the ICN.com analyst team.

Mataf.net analysts identify the next resistive measures of support for the USD/JPY at 98.30, onto 99.82, and finally 101.07. Regarding a paring of gains, supports for the pair will trigger should the cross reach 95.52, onto 94.27, and finally the 92.74 handle

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