FXstreet.com (Barcelona) -The Dollar has found support against the Yen at 94.50 level after falling around 60 pips from intra-day high at 95.05 in the European session. Currently the pair has bounced to trade close to 95.00, posting 0.45% daily gains from opening price action.
Valeria Bednarik, FXstreet.com collaborator, comments: Pair holds the bullish bias after rebounding in 94.45 support; capped by selling orders around 95.00, pair needs to clearly break above to extend the upside rally. Hourly indicators along with 20 SMA under current price, support the bias, while bigger time frames point for a downside correction, that we may consider completed with previous ball from 95.05 to 94.45.
Bednarik provides us with her levels for today: Support levels: 94.45 94.10 93.70. Resistance levels: 94.80 95.10 95.50.