FXstreet.com (CÃ³rdoba) - The Yen is rising for the third consecutive day against the Dollar. During the American session Greenback recovered after falling to 91.39, posting a fresh 7-month low. But USD/JPY stopped at 92.00 and weakened. The pair then regain the downside finding support at 91.60, in case the Yen breaks below the next one lies at intra-day low at 91.40 and below at 91.10 (Feb 16 low) and 90.55 (Feb 13 low). Current price at 91.63/65 is 0.36% below today's opening price.
The FastBrokers Research Team afirms: Tuesday was a key technical session across the board, highlighted by breakouts to the topside in both the EUR/USD and GBP/USD along with a dive beneath September lows in the USD/JPY. We expect these trends to continue over the near-term, meaning we could be talking about the psychological 90 level soon. However, even if the USD/JPY should weaken further, the currency pair has historical consolidation beneath present levels dating back to January and February trading ranges.