Forex: USD/JPY's recovery capped at 98.90

FXstreet.com (San Francisco) - After bottoming at 98.55, the USD/JPY was trading in recovery mode in the American session, but after testing several times the 98.90 resistance, the pair has been rejected and currently it is pricing at 98.80.

Trading 0.18% down on the day, the USD/JPY remains slightly bearish according to the FXstreet.com trend index. Indicators such as CCI and Momentum are pointing to the south while the MACD is bullish and the Stochastic is neutral in the 15-minutes chart.

Below the 98.80, next supports are at 98.60 and 98.20. On the upside, 98.90, 99.00 and 99.10 are resistances.