USD/JPY retracing from 98.86 2-week peaks

FXstreet.com (Chicago) - USD/JPY has gained 0.40% today to now accumulate 1.40% weekly gains so far ahead of Wall Street’s closing and after the strengthening of the greenback throughout the day.

USD/JPY Technical Levels

Technically speaking, the pair is offered at 98.74 and oscillates between the supports aligned at 98.70 (October 30th highs), 98.47 (October 22nd highs) ahead of 98 (October 14th lows) and the resistances set at 99 (October 16th highs), 99.25 (September 23rd highs) followed by 99.67 (September 15th highs). With primary, secondary and short-term trends, the bullish momentum is confirmed although intraday trend points down retracing from session highs.