FXstreet.com (Buenos Aires) - USD/JPY Current Price: 89.30. Correcting past Friday's rally, pair fell to an intraday low of 89.06 and enters the Asian session with a slightly bearish perspective for next hours: under 23.6% retracement of 84.80/90.76 rally, and with 20 SMA above current price and turning bearish, pair likely attempt a leg lower under 89.10 mentioned low, and first support area for next hours.
4 hours indicators also turned to the downside, supporting the bias, yet movement should be consider corrective unless a break under 88.50, 38.2% retracement of the mentioned rally, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 89.10 88.80 88.50. Resistance levels: 89.50 89.80 90.10.