The Yen has been identifiably consolidating against the U.S. Dollar over the last two days and appears to be continuing to do so. We see that it has found support (upward sloping white line) and bounced upward only to find resistance
The chart below features two possible levels of resistance. On the one hand, the downward sloping white line shows a more aggressive selling strength weighing down on the pair. The yellow line is slightly more horizontal, indicating that the pair may continue to reach current highs once retracing from support.
