FXstreet.com (Barcelona) - The Dollar continues dropping against the Yen reaching already to 102.61, according to the ActionForex Technical Team, the bias is on the downside: At this point, intraday bias remains on the downside as long as 103.62 minor resistance holds. As discussed before, bearish divergence conditions in 4 hours MACD and RSI argues that whole rebound from 95.77 is over.
The outlook from now on , according to the ActionForex Technical Team, stand as follows: Break of mentioned channel support will add more credence to this case and put 100.02 support into focus. Break will confirm and encourage a retest of 95.77 low. On the upside, though, above 103.62 will indicate an intraday low is in place and turn outlook neutral first.