Initiial resistance lies at the mentioned 98.40 (Jun 10 high), and above here, 98.55 (Jun 11 high) and 98.85/90 (Jun 8 and 5 highs). On the downside in initial support lies at 98.00, and below here 7.45 intra-day low, and 97.25 (Jun 9 and Jun 11 low).
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Forex: USD/JPY: Dollar approaching resistance at 98.40

FXstreet.com (Barcelona) - The Dollar has performed a 100 pip rally from yesterday's low at t 97.25 to reach an intra-day high at 98.28 on today's European session.

According to the Swiss e Trade Strategy Team, the odds for a Dollar above 98.40 are quite low: "The dollar strengthened in Asian trading and early European hours against the yen, to highs of now 98.15 near resistance around the 98.40 level. We don’t expect this level to be broken today, but to give way to downward moves around the 97.90 support."

Initiial resistance lies at the mentioned 98.40 (Jun 10 high), and above here, 98.55 (Jun 11 high) and 98.85/90 (Jun 8 and 5 highs). On the downside in initial support lies at 98.00, and below here 7.45 intra-day low, and 97.25 (Jun 9 and Jun 11 low).
For more information, read our latest forex news.

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