Forex: USD/JPY cannot stabilize over 95.00 level on risk

FXstreet.com (Barcelona) - The USD/JPY was toppled towards its session lows of 94.72 Tuesday during American trading, as investors flock to the safety of the JPY in droves. With risk aversion having fully gripped the markets today, the pair has found itself in freefall, relinquishing its hold on the 95.00 level. In these moments, the pair has found itself trading at 94.88/90, still -0.40% off its opening as lingering concerns over Cyprus continue to weigh.

Mataf.net analysts point to supportive structures at 94.65, ahead of 93.84, and finally 93.36. Should the quagmire in Cyprus abate or the pair rises today, short-term resistances for the USD/JPY can be found at 95.94, onto 96.41, and ultimately 97.23. There is little to offer overnight in terms of the economic calendar, as the situation surrounding Cyprus will take center stage.