FXstreet.com (Buenos Aires) - USD/JPY Current Price: 88.39. Pair remains under the 38.2% retracement of the daily rally 84.80/90.76, consolidating in a tight range since late European session, turning hourly indicators flat with no clear bias for next hours.
Still 20 SMA above current price and with a nice bearish slope, plus 4 hours charts indicators, support more bearish movements in the pair, likely to began if breaks under past Tuesday low of 88.16. 87.70, 50% of the same rally is next support in line, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 88.20 87.70 87.30. Resistance levels: 88.60 89.00 89.35.