FXstreet.com (Barcelona) - The Dollar's decline against the Yen in the American session from MA55 hourly at 91.25 has found support at 90.55 level after breaking 90.90 level. Currently the pair is trading around 90.60/70, 1.25% below today's opening price action at 91.78.
James Hyerczyk, analyst at ForexHound.com, comments: Japanese investors are betting that traders will continue to dump higher yielding assets and seek the safety of lower yielding currencies. In this case, the Yen is being favored over the U.S. Dollar as traders begin to discount the possibility that U.S. rates will soon be back above Japanese rates. The chart indicates the potential for a break back to 90.15 to 89.64.