Forex: USD/JPY struggles around 98.00

FXstreet.com (Córdoba) - The dollar managed to recover against the yen after falling to a 2-week low to start the week. However, after bottoming out at 97.33, USD/JPY found buyers and managed to erase intraday losses, filling the weekly opening gap in the process.

USD/JPY reached a daily high of 98.19 in recent dealings, also supported by stock gains, but lost momentum and pulled back a tad. At time of writing, the cross is trading around 97.95, where it is virtually unchanged since opening.

In terms of technical levels, immediate supports for the pair are seen at 97.60 (intraday level) and 97.30 (daily low), while resistances could be found at 98.20 (daily high), 98.35 and 98.80 (200-hour SMA).