The pair is still trending lower, after the BoJ report said that the Japanese economy is recovering. Traders will now wait for the US GDP results. If they come in better than expected, the current trend could be reverted.The bands of Bollinger show a volatility of 60 pips in the hour, while the RSI is around the oversold area. TheStochastic shows selling signs, right now.
A few moments ago, the pair was trading at 88.66 yens per dollar, very near the 88.70 intraday resistance.