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Forex: USD/JPY recovers ground from 99.20 and tests 99.50

FXstreet.com (San Francisco) - After declining 45 pips from 99.65 to 99.20 in the early American session, the USD/JPY recovered ground to test the 99.50 level again. Currently the pair is trading at 99.45, almost flat on the day.

The USD/JPY is trading slightly bullish according to the FXstreet.com trend index. Indicators such as CCI and Momentum are pointing higher while the MACD is neutral and the Stochastic is bearish in the 15-minutes chart.

Above the 99.50, next resistances are at 99.75, yesterday's high and 99.90, April 4 maximum. On the downside, 99.20, intra-day low, 98.60 and 98.00 are the supports.

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