USD/JPY moves off lows

FXstreet.com (Córdoba) - The USD/JPY managed to cut part of its intraday losses as risk aversion eased a touch, with stocks also moving off lows in Wall Street.

USD/JPY bounces but remains capped by 98.00

USD/JPY bounced from a low of 97.21 during the New York session, although it lost steam ahead of the 98.00 mark and settled in a narrow range. At time of writing, USD/JPY is trading at the 97.75 zone, where it records a 0.1% daily loss.

As for technical levels, USD/JPY could find immediate supports at 97.20 (intraday low) and 97.00 (psychological level), while resistances are seen at 97.90/98.00 and 98.70 (daily high).