FX : USD/JPY: Dollar remains between 93.40 and 93.80
FXstreet.com (Barcelona) - The Dollar tested 93.40 area on early European session and, after hitting 93.37 intra-week low,, the pair bounced up, although recovery has been capped at 93.80.
According to the Swiss e Trade Strategy Team, the pair remains weak and 93.40 support is likely to be tested again: "Against the yen, after tending weak in all of Asian trading, the dollar currently is trading now near its lows at 93.68, in nearly no real move. We expect the lows at 93.40 to be tested again in today’s trading and an even lower market eventually."
Below 93.35/45 (intra-day low/Aug 21 low), next support levels could be located at 93.10 (Jul 22 low) and 92.95 (trendline support). On the upside, resistance levels lie at 93.80/90, and above here, 94.63 (Aug 25 high) and 95.05 (Aug 24 high).
