FXstreet.com (Córdoba) - The Dollar failed to hold above 91.35 and fell finding support at 91.00. In the last hours the pair has been moving inside a range between 91.00 and 91.30. On the upside the next resistance lies at 91.45 and above at 91.65. In case the pair drops below 90.90 the next support lies at 90.50 (intra-day low). Current price at 91.17/20 is 0.30% above today's opening price.
The FastBrokers Research Team afirms: Regardless of present support, the USD/JPY's medium-term downtrend is still in the driver's seat. While the currency pair may experience a little more immediate-term movement to the topside, the USD/JPY remains in a downward trajectory. The DPJ's victory only adds strength to the USD/JPY's downward momentum since the new administration favors a stronger Yen and less reliance on exports. Additionally, breakouts in the EUR/USD, gold, and U.S. equities could continue this Autumn. If so, we would only witness more selling interest in the Dollar.