FXstreet.com (Barcelona) - The Yen is strengthening today's European session against the Dollar after testing 91.00 resistance and falls around 40 pips from 91.05 to break 90.70 support and reach fresh intra-day low at 90.60.
Currently the USD/JPY is falling 0.10% so far today from opening price action at 90.75.
The overall downtrend has been renewed with the recent break below 87.12. Trading is situated below the 50- and 200-day SMA, currently projected at 89.50 and 93.54. says Stoyan Mihaylov, analyst at DeltaStock, The negative bias is intact and with a crucial level at 92..04 the pair is ready for the next leg downwards, to 88.90. The intraday outlook is neutral in the 90.60-91.30 range. Stoyan concludes.