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Forex: USD/JPY bouncing off 97.30

FXstreet.com (Barcelona) - The Japanese yen is giving away some ground vs. the greenback on Wednesday, trading in the vicinity of 97.75/80 after bottoming in the area of 97.30.

“As bullish trend persists, there is scope for a test of resistance at psychological 100.00; a break above would open 101.45. Support is at 95.80”, commented Strategists G.Yu and G.Berry at UBS. It is worth noting that the Swiss lender keeps the bullish outlook on the cross.

At the moment, the pair is up 0.24% at 97.78 and a surpass of 98.20 (MA100h) would expose 98.44 (high Apr.17) and finally 98.65 (MA200h).
On the downside, support levels line up at 96.14 (MA21d) ahead of 95.67 (low Apr.16) and then 95.21 (61.8% of 92.57-99.95).

Forex: GBP/USD trades on consolidation mode around 1.5240

After falling around 130 pips from the 1.5350 area throughout the Asian and European session, the GBP/USD found support at the lowest level since April 5th at 1.5215 in the American session. After that, the GBP/USD has been trading in consolidation mode between 1.5230 and 1.5255.
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