FXstreet.com (Barcelona) - The USD recovery continues against the JPY in the Friday's American session. The USD/JPY has risen more than 100 pips from 95.19 to 96.26 in the last hour. Currently, the pair is trading around 96.10/20.Above 96.55, next support level would come at 97.00 and 97.60. Once above here, 98.50. On the downside, below 95.65 the Dollar could find supports at 94.64 (Jan 6 low), 93.55, intra-day low, and Feb 23 low at 92.75.According to Valeria Bednarik, today USD/JPY close will be fundamental to define next week bias: "Japanese yen continues losing ground against greenback, quoting above the 96.00 zone after reaching as low as 93.54 Thursday. Measuring this two-day fall with Fibonacci, the pair already retraced the 50% of the fall. Technical confirmation above 96.20 could send the pair to test the 61.8% of the mentioned rally at 96.70 also important resistance zone. 4 hours charts suggest further upside bias, yet far from confirmations; however daily charts indicators remain quite bearish. Today close will be fundamental to define next week bias. If under 96.00, the pair will find a first support at 95.50 (200 EMA in four hours charts, also 38.2% of the mentioned rally) that should hold the downside for today. Clear break under that point is required to see the pair falling to 95.10 zone and finally 49.82."On the other hand, Tatsuya Kawanishi, Junior Adviser at FXstreet.com, says that USD/JPY would rise further in April: "USD/JPY would rise further after the start of the new fiscal year on April. Nikkei Ave is still struggling at a low level though, USD/JPY 100 level could be seen in the mid term."
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