FXstreet.com (Sydney) - The USD/JPY is still unable to break the 90.00 mark and is trading at 88.88. The pair has been trading in a narrow range since opening at 88.96 and posted an intraday high of 89.06. The USD/JPY finds support at 88.63 and resistance at 89.21. Outlook for the pair is slightly bullish.
In the US, improving sales of existing houses boosted the share market while the dollar weakened. Sales of existing dwellings grew for its second consecutive month to its highest level for over 2 years. Since then, the dollar has recovered slightly against the majors though this is not expected to reverse the overall trend.