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Forex: USD/JPY falls and tests 99.00 mark

FXstreet.com (Barcelona) - Yesterday’s peak was made at 99.77 but the USD/JPY was supported by the 99.25 area. However, such area gave in today as the pair eased below 99.50 in order to touch the 99.00 mark as investors get ready for the European opening. The market has bounced to 99.15, for now.

Japan foreign bond investment fell from ¥-176.3B to ¥-199.3B in April 19, while foreign investment in Japan stocks fell ¥-27.9B, following ¥1,568.9B in the prior week.

“Intraday dips lower should find support now at 97.50 and be contained by 96.45”, wrote Commerzbank analyst Karen Jones, seeing that the market continues to probe at the 99.70/100.00 recent high, Fibonacci retracement and psychological resistance.

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