FXstreet.com (Barcelona) - After collapsing in the European opening session from 88.35 to reach 10-month low at 87.55, USD/JPY has been trading in a consolidation mode in a narrow range between 87.55 and 87.85. Currently the pair is trading around 87.70/80, 0.85% below today's opening price action at 88.47.

According to George Clement, analyst at Swiss e Trade, Dollar will fall further against the Yen: The dollar still is trending lower against the yen, with higher volatility in the Asian session and early European morning trading. Currently trading at 87.70, we expect further weakness to set in after an intraday consolidation phase.