USD/JPY bounces back above 97.00

FXstreet.com (Córdoba) - After dropping over 300 pips and piercing the 98.00, 97.00 and 96.00 marks on the way, USD/JPY finally found support at 95.89 from where it bounced in recent dealings.

Given the strong slump seen in the USD/JPY, the bounce was pretty strong as well, with the pair recovering over 130 pips from lows to trade back above the 100-day SMA. At time of writing, USD/JPY is quoting at the 97.25 zone, where it records a loss of 1.8% on the day.