FXstreet.com (Buenos Aires) - USD/JPY Current Price: 91.30. Pair entered in a consolidation stage, and remains capped between 91.00 and 91.60 area. Hourly indicators suggest some downside movements ahead, yet pair needs to break under 20 SMA to confirm that movement, as the MA continues gaining bullish slope and acting as dynamic support.
Bigger time frames also turned slightly bearish, suggesting the upside will remain limited as long as under 91.60 area. Confirmations above that level could trigger some upside momentum, while clearly under 91.00 could send the pair to test past Wednesday low around 90.40, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 91.10 90.80 90.40. Resistance levels: 91.50 91.85 92.20.