FXstreet.com (Barcelona) - The Dollar has found resistance at the 91.00/05 zone against the Yen after attempting to break up the narrow consolidation range between 90.70 and 90.00 that it has been moving throughtout the Friday's American session and today's Asian morning.
Currently the USD/JPY is rising 0.15% so far today from opening price action at 90.85.
The dollar versus yen continued to insure the breach of the bullish wedge, shown in our previous reports, while trades stabilize below pivotal support that is represented in 91.20, in addition to being below the MA 200. Affirms the ecPulse.com analyst team, therefore, it supports our previous expectations by achieving the bullish short term direction heading towards 88.00. It is vital to pay attention to the positive signs that are appearing through the stochastic that might push for some bullish corrections. The bearish short term wave requires the daily close below 93.50. ecPulse.com concludes.