FXstreet.com (Barcelona) - After falling around 80 pips from 92.80 to intra-day low at 92.00 during the European session, USD/JPY is trading in consolidation mode in a narrow range between 92.00 and 92.30 during the American morning.
Currently, USD/JPY is trading around 0.90% below today's opening price action at 93.02 to the actual 92.20.
Valeria Bednarik, FXstreet.com collaborator, comments: Strongly bearish, pair has bottomed twice at the 92.00 zone, yet remains too close to call for a bounce. Hourly indicators seems exhausted to the downside supporting some upside correction, thus should remain short lived, as sentiment will keep the pair under pressure. Bigger time frames also seem exhausted to the downside.
Bednarik provides us with her levels: Support levels: 92.00 91.70 91.40. Resistance levels: 92.30 92.66 93.00.