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Forex: USD/JPY jumps toward 98.00

FXstreet.com (Córdoba) - The dollar managed to advance versus the yen and reached a 2-day high, underpinned by the sharp rise seen in EUR/JPY following the ECB rate cut.

USD/JPY climbed over 50 pips within the last hour and scored a high of 97.95 in recent dealings. At time of writing, the cross is trading around 97.85, recording a 0.4% daily gain after 4 consecutive days of losses.

As for technical levels, above 98.00 next resistance could be found at 98.20 (high Apr 29), while supports are seen at 97.00 (low Apr 30) and 96.70 (high Mar 12).

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