F X : USD/JPY: Dollar remains capped below 94.00 level
FXstreet.com (Barcelona) - The Dollar has remained trading in a range from 93.50 to 94.00 during the European session, after its decline from yesterday's high at 94.55. At the moment, the Yen trades around 93.80.
Initial resistance area lies at 94.00, and above there, 94.30 and 94.55 (Aug 20 high). On the downside, support levels lie at 93.45 fresh 3-weeks low, and below there, 93.10 (Jul 22 low) and 92.72 (Jul 14 low).
According to the Swiss e Trade Strategy Team, upside moves for the Dollar will likely remain capped at 93.80: "On a slight recovery move this European morning, the dollar is currently trading at 93.80 against the yen. We see this recovery move soon stopped at around 93.90 today, giving room for downmoves as low as 93.20."
