FXstreet.com (Barcelona) - The Dollar is trading on consolidation mode against the Yen after the last bullish movement which take the USD/JPY from 88.90 in the early Asian session to test intra-week high at 90.35. Currently the pair is trading around 90.10/20, 0.40% above today's opening price action at 89.95.
George Clement, analyst at Swiss e Trade, comments the Yen's downside potential: In today`s trading, we focus on favorable buying points for the USD / JPY, intraday profiting from an emerging longer-term trend. The dollar is still acting strongly against the yen and is currently trading around 90.30, near a resistance level. We expect first a consolidation zone, between 89.80 and current prices, resulting in another upmove from 89.80 to levels above 90.20.