Europe Economy

Charts: Dollar Could Fall to 80 Yen

The dollar's slide lower against the yen shows no sign of letting up and it could push toward 80 yen, which the pair would not have seen since 1995, Royce Tostrams, Technical Analyst at Tostrams Groep, told CNBC.

Charts: Dollar Could Fall to 80 Yen

"Now we are moving lower, we could move to about 80.10 (yen per dollar). It's a low of 1995 so you have to look back more than 14 years to find the next support," Tostrams said.

"That means the dollar/yen remains very, very weak. There's a lot of selling pressure and I don't see any signs of a trend reversal yet. So you have to remain short of the dollar/ yen," he added.

The dollar has been a downtrend against the yen since early in the year and the downtrend is continuing, according to Tostrams.

The dollar has fallen below a key support level versus the Japanese currency at 88 yen, which signals further weakness for the greenback, he added.

-         Watch the video above for the full Royce Tostrams interview.

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