USD/JPY remains capped by 100.40

FXstreet.com (Córdoba) - The greenback managed to recover ground against the yen on Tuesday and rose back above the 100.00 level, but the upturn found resistance at the 100.35/40 area during the American session, confining USD/JPY to a phase of consolidation.

USD/JPY has spent the last hours within the 99.95/100.35 range and it is currently trading around 100.10, where it records a 0.6% daily gain.

As for technical levels, immediate resistances could be faced at 100.40 (daily high) and 100.70 (Jun 3 high). On the other hand, supports could be faced at 99.30 (daily low) and 98.85 (Jun 3 low).