The Dollar is trimming losses against the Yen. USD/JPY is still holding below 90.00 but is testing levels above 89.70. To the upside, immediate resistance lies at 89.90 and above at 90.10 and 90.40.
A semi official intervention around 89.00 is supporting the pair so for, according to Valeria Bednarik, collaborator at FXstreet.com. “Thus general trend remains strongly bearish; pair will need to strongly recover above 90.00 to change current intraday trend”, Bednarik says.
Yesterday USD/JPY failed to consolidate above 90.45 and during today’s Asian session regained the downside and tumbled to 89.24, just 28 pips above last week lows.
A semi official intervention around 89.00 is supporting the pair so for, according to Valeria Bednarik, collaborator at FXstreet.com. “Thus general trend remains strongly bearish; pair will need to strongly recover above 90.00 to change current intraday trend”, Bednarik says.
Yesterday USD/JPY failed to consolidate above 90.45 and during today’s Asian session regained the downside and tumbled to 89.24, just 28 pips above last week lows.
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