FXstreet.com (Barcelona) - The Dollar has continued trading lower today's session against the Yen and after falling 65 pips in the Asian session the USD/JPY has reached intra-day low at 88.75. Currently the pair is trading around 88.90/89.00, 0.65% below today's opening price action at 89.50.
The Japanese Prime Minister, Yukio Hatoyama, has announced $81 billions as stimulus recovery.
Nicolle Elliott, Analyst at Mizuho Corporate Bank, comments: Reversing over 61% of Friday's rally, stopped by a rather thin Ichimoku 'cloud' and helped by a Lagging Span which topped at the 30th October's large dark candle. We have hopefully formed a new interim high, at least fir this week, and shall probably drop towards the 88.00 area where prices will try and hold this week and next.