Forex: USD/JPY: Dollar, consolidating between 94.40 and 94.75

After Friday's decline from 95.40, the Dollar has found support at 94.40 and has remained consolidating during the whole European session in a range between the mentioned support and 94.75 resistance.

The Dollar has found strong support at current levels: "Continuing to hover at low support levels against the yen in the early European hours, the USD currently is trading at 94.55. We regard the present levels as a strong support, leading to recovery moves up to 94.90."

Initial resistance level lies at the mentioned 94.75 intra-day high, and above here, 95.05/15 (13/12 Aug lows), and 95.40/50 (Aug 14 high). On the downside, initial support level lies at 94.40 (Aug 14 low), and below here, 94.00 (Jul 29 low) and 93.55 (Jul 23 low).