FXstreet.com (Córdoba) - The Yen is rising across the board for the second day in a row, extending its recovery after last week decline. USD/JPY broke below 88.80 and fell to 88.30 posting a fresh intra-day low. The pair currently trades near the lows at 88.35/40, 1.20% below today's opening price. On the downside support lies at 88.25 and below at 88.00/87.95 and 87.60.
Stoyan Mihaylov, analyst at DeltaStock.com, comments: The pair is still in the downtrend from 90.77 and is currently heading for a precise test of the 88.50 support zone. A reversal around 88.19-50 is to be expected and it should provoke a rise towards 90.77, en route to 92.40 major resistance.