FXstreet.com (Barcelona) - The Dollar-Yen hast retreated somewhat today, although, according to the AcionForex.com Team the cross is still supported by Friday's low: USD/JPY dips mildly today but is still supported by Friday's low of 114.35. But still as discussed before, with 4 hours MACD dragged below signal line, rebound from 113.23 should have already completed. The most likely sceneario from now on, according to the ActionForex.com team, is the following: Hence, short term risk remains on the downside and break of 114.35 will encourage a retest of 113.23 low first. Break will confirm fall from 117.93 has resumed for 111.59 low. However, strong break above 116.16 resistance will argue that consolidation from 112.58 is going to extend further and retest of 117.93 high could be seen.
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