Forex: USD/JPY can't break above 80.30

<!--TITOL:

Forex: USD/JPY can't break above 80.30

FITITOL--> FXstreet.com (Barcelona) - USD/JPY is currently diving at 80.18 from session highs 80.27, near yesterday's highs 80.30, after bouncing from session lows 80.05. The Nikkei index is losing steam after opening in positive near the 9400 points mark, now around 9350 down by -0.01% for the session, following a small USD rally across the board except against Yen, that gains over it pushing USD/JPY lower.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “the bearish tone in USD/JPY seems not completely gone from the pair, as it fell back below the 23.6% retracement of the latest bearish run, with hourly chart showing indicators flat in positive territory. In the 4 hours chart price was capped by a still bearish 20 SMA while indicators are heading back south after erasing extreme oversold readings. The downside risk in the pair is still quite strong, and only a daily close above 80.50 may see some easing in current trend,” the analyst concludes.

Support levels are seen at: 80.00 79.80, and 79.45, while resistance levels are located at: 80.30 80.50, and 80.85.