Forex | Forex | Forex: USD/JPY continues trading close to 97.00 resistance in consolidation mode (01/07/2009 11:27:00)

Forex: USD/JPY continues trading close to 97.00 resistance in consolidation mode

FXstreet.com (Barcelona) - After the initial 80 pips jump from 96.17, intra-day low to post 96.98 as intra-day high in the early Asian session, USD/JPY has been trading close to 97.00 key level in several attempts to break it. Pair is posting 0.70% daily gains from 96.23 opening price to the current 96.85/95.

According to George Clement, analyst at Swiss e Trade, USD/JPY could break the 97.00 today: "Against the yen, the dollar is consolidating its higher levels reached in Asian trading in this European morning. Currently trading around the 96.70 support level, we expect another breakout upwards, to prices around 97.50."

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