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USD/JPY extends decline below 98.50

FXstreet.com (San Francisco) – After rising from 98.25 to test intra-day high at 98.75 in the early American session, the USD/JPY has been retreating to price below the 98.50 area.

“Little news in the USD/JPY front, with the pair closing for second day in a row with a doji that reflects the lack of definitions at the time being,” comments Valeria Bednarik, FXstreet.com chief analyst. Currently, the USD/JPY is trading at 98.44, 0.10% negative on the day.

USD/JPY bias

Short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as CCI and …read more