FXstreet.com (Córdoba) - The Dollar continues to recover against the Yen at a slow pace after falling to 89.00 following the opening bell at Wall Street. Currently the pair trades at 89.43/46, 0.30% below today's opening price. Support on the downside lies at 89.00 and below at 88.80 (intra-day low). Resistance could be located at 89.60 and above at 89.90/90.00.
According to Ian Coleman, technical analyst at Turtle Futures: The last two days have been full of indecision on the daily chart. The 1hr chart, we had an impulsive move up to 90.47. This was at an angle of 49 degrees, the move lower has stopped at 61.8% and is more corrective at an angle of -25 degrees. We have stopped around 61.8% of the last move up.
Markets in the U.S. are posting considerable gains as the Dow Jones approaches to the 10,000 level. In Europe, main stock indexes finished with gains of 2% on average.