FXstreet.com (Sydney) - The USD/JPY reversed its run of losses and has climbed steadily to trade at 87.91. This is the highest the pair has been since late November, lifting after opening at 87.38. The pair is considered slightly bullish and finds support at 86.46 and resistance at 88.00.
Negative economic news were released in Japan which pointed to a fall in company spending by 24.8% in the September quarter compared to last year. The pace of decline has accelerated given spending was down 21.7% in the June quarter. This data will be used in calculations for GDP figures due out on December 9. Companies are tipped to remain cautious on spending worried that the effects of the global stimulus will fade.