USD/JPY in consolidation mode

FXstreet.com (Córdoba) - After rallying nearly 100 pips from daily lows the USD/JPY lost momentum and entered in a consolidation phase near daily highs.

USD/JPY hits fresh high and retreats

However, USD/JPY managed to stretch higher in recent dealings and printed a high of 96.90 before pulling back to the 96.70 comfort zone. USD/JPY was last up 0.5% at 96.73 and with no major data in the calendar for the rest of the NY session, the pair might remain rangebound.

USD/JPY technical levels

In terms of technical levels, USD/JPY could face next resistances at 96.90 (daily high) and 97.60 (10-day SMA) while supports are seen at 95.90 (daily low) and 95.80 (Aug 8 low).