FXstreet.com (Barcelona) - The Dollar's rejection at intra-day high at 94.05 against Yen has continued with the pair falling around 60 pips since the beginning of the European session to post 93.50 as session low. Currently the pair is trading around 93.50/60, 0.10% daily losses from opening price action.
The pair is closing the current week on a weak note, the third on row, USD/JPY is trading 1.10% below Monday opening price at 94.85, extending losses from August high at 97.80.
Valeria Bednarik, FXstreet.com collaborator, comments: As expected, pair remains unchanged, moving in a tight range and capped under the 94.00 level, suggesting more downside pressure ahead. Hourly indicators support the bearish bias, thus under 20 SMA around 93.65 fall could get more strength. Seems hard to see strong movements today in the pair, with general elections in Japan this weekly, so expect the pair to remain range bound.
Bednarik provides us with her levels: Support levels: 93.65 93.40 93.10. Resistance levels: 94.10 94.45 94.80.