FXstreet.com (Barcelona) - The Dollar's decline against the Yen from yesterday's high at 91.60 has continued today's session to break MA200 hourly at 91.20 in the Asian time and hit 90.80 as intra-day low. Currently the pair is trading around 90.90/91.00, close to MA55 hourly at 91.00 and 0.60% below today's opening price action.
Glen Holden, analyst at ForexYard, comments: The typical range trading on the hourly chart continues. The daily chart's Slow Stochastic is floating in neutral territory. However, the 4-hour chart's Slow Stochastic is indicating a fresh bullish cross, suggesting that an upwards correction might take place in the nearest time frame. When the upwards breach occurs, going long with tight stops appears to be the preferable strategy.