FXstreet.com (Buenos Aires) - USD/JPY Current Price: 89.64. Pair gapped to the downside, reaching an intraday low of 89.15 before bouncing back to test 61.8% retracement of the last daily rally from 88.00 to 92.30.
Pair could attempt to close the gap, yet only clear confirmations above 90.35 area will dilute strong bearish momentum; both hourly and 4 hours charts indicators point for further downside movements ahead, thus indicators are close to extremes. Corrective movements should remain under 90.00 to support current bias, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 89.50 89.15 88.80. Resistance levels: 89.80 90.10 90.35.