USD/JPY recovery stalls at 97.85

FXstreet.com (Córdoba) – The recovery of the USD/JPY from a 2-week low scored during the Asian session stalled just ahead of the 98.00 mark during the New York trade, confining USD/JPY to a quieter phase.

Despite the risk off mood, USD/JPY rose over 100 pips from a low of 96.81 as short-term indicators corrected from oversold levels, but the bounce was capped by the 97.85 area. At time of writing, USD/JPY is trading around 97.65, where it records a 0.7% gain on the day.

USD/JPY technical levels

In terms of technical levels, the USD/JPY could find immediate resistances at 97.85 (daily highs) …read more