FXstreet.com (Barcelona) - The Dollar's rejection against the Yen from 90.20 in the early European session has found support at 0.8950 with the USD/JPY bouncing to test MA55 level hourly chart at 89.80. Currently the pair is trading around 89.60/70, 0.20% below today's opening price action.

Valeria Bednarik, FXstreet.com collaborator, comments: As comment on previous update, pair break of the descendant trend line still not confirmed, keeps the pair range bound. After turning lower pair is back under the mentioned line, yet 89.50 area holds the downside. Clearly under that level, pair could resume previous bearish trend and extend current movements to 89.20; above 90.00, 90.40 area remains the key level to watch.

Benarik provides us with her levels: Support levels: 89.50 89.20 88.80. Resistance levels: 89.80 90.10 90.40.

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