FXstreet.com (Buenos Aires) - USD/JPY Current Price: 91.21. Approaching to the roof of the descendant channel coming form 97.78 highs clear in 4 hours charts, and despite general yen strength pair seems to have formed a double floor around the 90.20 area that leaves the neck at 91.65, barely 10 pips above mentioned channel roof.
Confirmations like a candle opening above 91.70 could trigger some upside momentum in the pair, as both figure will be complete, and channel broken. Failure to regain that level, with put the pair again under pressure, and increase chances of a retest of the 90.00 lows, said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 91.00 90.55 90.20. Resistance levels: 91.35 91.60 92.00.