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Forex: USD/JPY declines to 97.35

FXstreet.com (San Francisco) - The USD/JPY was unable to holds above the 98.00, and after being rejected from the 98.15, the pair declined around 80 pips to test the 97.35 level. Currently the USD/JPY is trading at 97.50.

The USD/JPY is still 0.80% positive on the day but the overall trend is slightly bearish according to the FXstreet.com trend index. Indicators such as CCI and Momentum are bearish while the MACD is bullish in the 1-hour timeframe.

Below the 97.35, next supports are at 97.20 and 96.80. Resistances are at 97.70, 98.40 and 98.80.

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