Forex: USD/JPY retreats off highs to 98.14/18

FXstreet.com (Barcelona) - The USD/JPY got off to a hot start, peaking early at 98.26 (session high) Friday during European trading. In recent moments however, the cross has retreated slightly to trade at 98.14/18, though still holding positively at +0.25% ahead of the Nonfarm Payrolls later today in the US.

Mataf.net analysts point to resistive means for the USD/JPY at 98.57, onto 99.12, and ultimately 99.84. Alternatively, a movement below the 97.29 supportive structure will trigger additional means of correction at 96.57 and 96.01.

According to the Technical Analyst Team “The USD/JPY failed our bearish expectations yesterday with the breakout and consolidation above 97.80. Trading now above this level is now positive and might extend bullishness.”