FXstreet.com (Barcelona) - The Dollar has found support at 90.35, intra-day low, against the Yen after falling around 85 pips from today high at 91.10, and USD/JPY has begun to rise to trade above 90.50, close to 90.90 during the European session.
Currently the pair is trading around 90.80/90, 0.15% below today's opening price action at 90.95.
Stoyan Mihaylov, analyst at DeltaStock.com, comments: A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated below the 50- and 200-day SMA, currently projected at 94.86 and 94.84. A minor consolidation unfolds from recent high at 91.34 and the pair is testing 90.38 support area. The overall bias remains positive for 92.10, but a break below 90.40 can target a deeper slide towards 89.70 dynamic support. A positive trigger on the upside is 90.90.