FXstreet.com (Córdoba) - The Yen has been steady against the Dollar in the last hours. USD/JPY trades inside a narrow range with support at 87.60 and resistance at 87.75. Current price at 87.62/67 is 0.93% below the level it had at the beginning of the day. The Japanese currency is consolidating important gains and is heading toward the lowest daily close since December of last year.
Valeria Bednarik, Fxstreet.com collaborator, affirms: Break under 88.00 level has accelerated the fall in the pair, close to this year low. Despite downside extreme readings in indicators, pair has no signs of changing bias or correcting, so a test of the 87.15 level seems more than likely at this point. Under that zone, expect the sell off to accelerate strongly.