USD/JPY remains well supported at 99.50

FXstreet.com (San Francisco) - After reaching 1-month highs at 99.80, the USD/JPY has retreated some ground to trade back around 99.60 with the pair well supported at 99.50.

Currently, the USD/JPY prices around 99.62, 0.40% positive on the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index. However, indicators are pretty mixed, CCI is bearish, Momentum is bullish and stochastic and MACD are neutral.

The USD/JPY could face immediate supports at 99.50, 99.10 and 98.90. On the upside, next resistances are at 99.80, 100.00 and 100.60.