The Dollar-Yen exchange rate fell a sizeable 0.88% on Wednesday and is seen at 104.50 on Tuesday. Following the sizeable move, analyst Richard Perry at Hantec Markets considers the potential next levels the pair might achieve.
The Dollar-Yen exchange rate has fallen half a percent to 104.94 in mid-week trade, a move that is consistent with the view of analyst and technical forecaster Richard Perry that any strength in USD/JPY offers up a fresh chance to sell.
The Dollar-Yen exchange rate is at 105.39 at the start of the new week with the exchange rate retaining a narrow multi-day range. Analyst Richard Perry of Hantec Markets says technical studies suggest any short-term strength is an opportunity to sell.
The Dollar-Yen exchange rate failed to breach above 106 and has since retreated lower to current levels around 105.25. Analyst Richard Perry of Hantec Markets says technical signals point to downside pressure targeting the 104.90 October low.