FXstreet.com (Barcelona) - The dollar is up almost 50 pips against the yen, currently trading in the 91.70 area, ever since Finance Minister Hiroshida Fujii resigned earlier in today's European session due to health reasons.

With the blow to the yen, the pair is slowly regaining the upside, with 4 hours charts having reached an oversold condition at 91.15 low, and supporting further upside corrections, says FXstreet.com independent collaborator Valeria Bednarik, who goes on to add, thus only above 92.20 area pair can revert current downside bias.

Stoyan Mihaylov of deltastock.com concurs: Important resistance on the upside comes at 92.17 while the crucial resistance is at 92.70.

In the case that the pair's upward movement is rejected, Bednarik affirms that a break under today's low of 91.15 would likely favor further falls to the 90.60 area, between the 200-day MA upside and 100-day MA downside on the daily chart.

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