FXstreet.com (Barcelona) - The Dollar's recovery against the Yen from 2-week low at 89.17 in the Early Asian session to trade above 90.00 level and hit intra-day high at 90.30. Currently the pair is trading around 90.00/10, 0.40% above today's opening price action at 89.67.
The ecPulse.com analysis team affirms: The dollar yen pair is being traded in an oversold area on the one-hour charts, as the pair is trying to climb to the resistance of 90.49 but struggling as it trades above the support of 89.82 at 90.19. The momentum indicators are providing us with a sideways wave on the one-hour charts. The USD/JPY recorded a high of 90.30 and a low of 89.43.
On the other hand, Anthony Boyajian, analyst at Finotec, comments in his weekly view: U.S. Dollar still in a downtrend against Japanese Yen, as we can see strong supply in the market, based on technical indicators like RSI, which is in a clear downtrend, MACD crosses the signal line with a break of equilibrium level and Bollinger band gives us a bearish signal by closing the candle below the middle band.