FXstreet.com (Barcelona) - The Dollar's decline against the Yen from 92.30 on the Asian session has found support at 91.80 in the European morning and the US/JPY has begun to rise from that level to rise above 92.00 again. Currently the pair is trading around 92.00/10, 0.20% below today's opening price action.

The ecPulse.com analysis team comments: The dollar versus yen pair derailed from the ascending channel, where we see it trading below the 50 and 20 MA; meanwhile we see clear oversold signs on the stochastic, alongside a possibility of a bullish reversal appearing due to the affect of 91.70 which represents 38.2% correction for the bearish direction that started on the 7th of August. As long as trading is above the previously mentioned level, it won't change our morning expectations, where we expect a bullish direction; however, assuring this move requires it to remain above the 20 MA at 92.10, where the pair could return to the ascending channel.