FXstreet.com (Córdoba) - The Yen is extending its rally across the board on Friday. USD/JPY fell to 89.48 posting a fresh 7-month low. The pair found support at the 89.50 area and from there rebounded to 89.85. Greenback is plunging 1.60% from today's opening price. In case it falls further, the next support lies at 89.20. A weekly close under 90.00 will suggest that the pair could fall to the lows of the year, at 87.10 in the mid-term.
The Yen is also stronger against European currencies. GBP/JYP fell below 143.00 for the first time since late April. The pair found support at 142.50, if it breaks below the Yen could rise further. The next levels to consider lie at 140.00 and below at 138.90. To the Euro, the Japanese currency is also higher. EUR/JPY tumbled more than 200 pips so far today, falling to 131.50.