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Forex: USD/JPY settles around 97.50

FXstreet.com (Córdoba) - The dollar slumped to a fresh 2-week low against the yen, weighed by a lower-than-expected reading on Chicago PMI. However, after hitting its lowest since Apr 16 at 97.00, USD/JPY managed to bounce and settled in a range within the last hours.

At time of writing, USD/JPY is trading at the 97.50 zone, where it records a 0.2% loss on the day. On the upside, next resistances are seen at 97.80 (intraday level) and 98.00 (psychological level) ahead of 98.45 (100-hour SMA). On the downside, supports line up at 97.00 (daily low/psychological level), 96.70 (high Mar 12) and 96.35 (low Apr 15).

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