USD/JPY advances to test 98.75 again

FXstreet.com (San Francisco) - The USD/JPY is extending its recovery from 98.50 to test back the 98.75 area after being rejected at its first attempt in the early Asian session. Currently the pair is trading at 98.70.

Trading 0.15% positive on the day, the USD/JPY's short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is neutral.

USD/JPY technicals

Above the 98.75, the USD/JPY would face resistances at 98.90 and 99.00. On the downside, supports are at 98.50, 98.20 and 97.80.