FXstreet.com (Barcelona) - The USD/JPY has pared its earlier losses during European trading Monday, returning clawing its way back into positive territory as the pair remains slightly above opening levels at 84.40/42. In the absence of economic data today in nearly every corner of the globe, the pair is recording a tepid advance of +0.03% at the time of writing.
Having closed above the 84.20 level previously, this price confirms reversal in sentiment among investors, suggesting a bullish tendency and the potential move higher.” writes Research Analyst Gareth Berry at UBS. Technically speaking, the USD/JPY will encounter means of resistance at 84.67, onto by 84.90, and 85.31. On the decline, supportive measures will kick in if the pair moves below 84.03, then 83.63, and finally 83.40.
Having closed above the 84.20 level previously, this price confirms reversal in sentiment among investors, suggesting a bullish tendency and the potential move higher.” writes Research Analyst Gareth Berry at UBS. Technically speaking, the USD/JPY will encounter means of resistance at 84.67, onto by 84.90, and 85.31. On the decline, supportive measures will kick in if the pair moves below 84.03, then 83.63, and finally 83.40.
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