FXstreet.com (Buenos Aires) - Early Asia, Japanese yen printed a fresh weekly high against dollar, breaking above the 61.8% retracement of past week downside rally 89.19/ 84.80. The currency is expected to extend loses during next sessions on speculation that Japanese authorities may take more serious steps to arrest recent JPY gains.

USD/JPY quotes at 87.60, with immediate resistance at the 87.80 area, followed by 88.10; supports on the other hand, lie at the very close 87.45 zone, 87.10 (previous yearly low) and 86.50, 50% retracement of the mentioned rally.

Regional markets had no cues from Wall Street, thus market players likely to remain cautious ahead of tomorrow's ECB monetary policy.

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