FXstreet.com (Córdoba) - The Dollar failed to hold above 89.60 against the Yen and regains the downside. USD/JPY currently trades at 89.52/55, 0.87% below today's opening price and is getting closer to intra-day low that lies at 89.44. The pair continues under pressure and if the pair falls further the next support lies at 89.40 and below at 89.15/30 (Nov 2 and 11 lows).
The FastBrokers Research Team affirms: The USD/JPY has quite a few technical cushions in place should conditions deteriorate. As for the topside, the USD/JPY is still mired in its long-term downtrend and faces multiple downtrend lines along with 11/12 and 11/06 highs. Furthermore, the psychological 90 level serves as both a technical cushion and barrier. Therefore, the USD/JPY may need a sizable jolt to proceed in a more definite direction.