FXstreet.com (Barcelona) - The Dollar has rallied against the Yen reaching past the 105.2 level. Slobodan Drvenica, technical analyst at Windsor Brokers affirms: Remains in uptrend from 95.72, 17 Mar yearly low, with 105.87 high being reached so far on 29 May. Correction to 103.87 low seen yesterday followed, ahead of renewed strength to 105.56. Subsequent pullback left a higher low at 104.54 today, confirming short-term bulls.
The possibilities ahead, according to Drvenica are: Fresh gains now attempting towards 105.56, break of which will expose key 105.70/87 levels and clearance there will resume uptrend towards 106.60 next. Only loss of 103.87 would weaken the near-term picture.