FXstreet.com (Buenos Aires) - USD/JPY Current Price: 89.53. Consolidating at the lows tested past Friday, pair is forming a small descendant continuation figure, a horizontal channel with base at 89.45, first static support for the pair. With bearish signals in 4 hours charts, and well under 20 SMA in the hourly, general trend remains strongly bearish despite some signs of exhaustion in hourly momentum.
Corrective movements to the upside, likely to remain capped under the strong 90.00 area, while break under mentioned low, will trigger acceleration in pair selling, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 89.45 89.20 88.80. Resistance levels: 89.70 90.00 90.30