Forex: USD/JPY capped at 80.00

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Forex: USD/JPY capped at 80.00

FITITOL--> FXstreet.com (Barcelona) - Ahead of the US session, the USD/JPY was capped at the 80.00 line and dropped back down during the opening. At the moment of writing, the pair is trading around 79.85.

“Due to the existence of the consolidation pattern above 79.63 low my intraday outlook is bullish, for a rise towards 80.60-90. Initial resistance is projected at 80.07 and crucial on the downside is 79.60”, wrote Deltastock.com analyst Stoyan Mihaylov.

US Consumer Credit is due at 19:00 GMT and consensus point to a rise by $9.8B in March.