Forex: USD/JPY looks heavy; correction may find sellers at 93.30 (Barcelona) - The USD/JPY weakened for a third consecutive day towards 92.70, a 3-day low too, an an area still 70 pips way from what some analysts are expecting as a requirement for the USD/JPY to confirm a top.

Present quote is higher at 93.05 30 minutes into the Tokyo session. Should the recovery extend, the next troubling are may be taken at 93.20 up to 93.30, where a sequence of intraday lows are lying.

As Valeria Bednarik, chief analyst at, notes: "Buying interest have receded. The hourly chart shows price below moving averages while indicators hold in negative territory. In bigger time frames, a stronger bearish momentum is present, looking now for a short term continuation towards the 92.20 static support area. Sellers should appear in the 93.30 price zone."

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.