USD/JPY's decline continues to post 95.53, fresh 2-week low

FXstreet.com (Barcelona) - USD/JPY has declined further in the American session after the U.S. CPI posted the largest decline in the last 60 years and the pair has fallen below 96.00 level and has posted 95.53 as fresh 2-week low. Currently the pair is trading around 96.65/75, 0.30% below today's opening price action.

Valeria Bednarik, Fxstreet.com collaborator, comments: "Pair continues clearly bearish in 4 hours charts, although momentum is fiving some signs of exhaustion. Daily ascendant trend line around 95.60 will be key in the next hours: strong rebound around that level (not really seen at this point) could support some upside corrective movements in the pair to the 97.00 zone. Break under that level, or even better, daily candle closing under it, will open doors to the downside, and send the pair to retest the 93.80 zone. Immediate support lie at 95.20 94.80 and 94.40 zone, while resistances from actual price are at 96.10 96.50 and the 96.90 zone."