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Forex: USD/JPY recovery capped at 96.25, back below 96.00
After bouncing at 95.60 and attempting to recover above the 96.00 area, the USD/JPY was capped at 96.25 and currently it's back below the 96.00 mark, trading at 95.85.
With the USD/JPY trading 0.45% lower on the day at 95.85, the FXstreet.com Forex Studies points a strongly bearish trend index. MACD, CCI and Momentum indicators are bearish while RSI and Stochastic are neutral.
“My intraday outlook is negative, as I expect a beak through 96.00 to trigger a slide towards 95.07”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to a positive bias on the senior frames above 94.50-70 support area, for a rise towards 97.60.
