FXstreet.com (Córdoba) - The fall of the Yen across the board eased in the last hours. USD/JPY found resistance at 87.40 and pulled down to 86.95 but it was rejected from those levels and the Dollar rose back above 87.00. Currently the pair trades at 87.24/28, 0.66% above today's opening price and is rising for the second day in a row.
On the upside, resistance levels lie at 87.40 (intra-day high) and above at 87.55 (Dec 1 high) and 88.00 (Oct 7 low). If the pair falls fellow 86.95, next support levels lie at 86.60 and 86.15 (Dec 1 low).
Stoyan Mihaylov, analyst at DeltaStock.com, comments: The consolidation above 84.79 is still on the run and there is a risk of a precise test around 88.01 resistance before breaking below 86.01 support. The overall bias remains negative for 83.45, while the pair stays below 88.75 resistance.