USD/JPY destroys the 98.00 area and falls to 97.30

FXstreet.com (San Francisco) - The US dollar is trading lower across the market with the USD/JPY falling around 100 pips in the last two hours from 99.30 to break down the 98.00 area and reach the lowest level since May 2nd at 97.30.

Currently, the USD/JPY is trading at 97.60, 1.50% down on the day. Short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.

Below the 97.30, next support area is the 97.00 key level, ahead of 96.30. On the upside, resistances are at 98.00, 98.80 and 99.40.