FXstreet.com (Córdoba) - The Yen is rising across the board on Thursday and recently got stronger. USD/JPY moved inside a range between 89.80 and 89.60, most of the American session. The Yen is now testing levels under 89.60, in case the pair holds below it could fall further to 89.40, intra-day low.
Greenback failed to hold above 90.00 and is falling for the second day in a row against the Yen. Currently it trades at 89.55/58, or 0.15% below today's opening price.
According to James Chen, technical analyst at FX Solutions: Price continues to lean towards a bearish bias. Within the current prevailing downtrend, the general 92.00 price region serves as strong resistance, and any breakdown below 88.20, the noted downtrend low, should quickly target major long-term support in the 87.00 price region.