FXstreet.com (Córdoba) - Greenback failed to break above 89.00 against the Yen and is still facing pressure. USD/JPY has been steady in the last hours trading in a narrow range between 88.85 and 89.00. The pair is falling 0.42% from the opening price and if it ends the day below 89.00 it will be the first time since October 8. Above 89.00 the next resistance is located at 89.15 and above at 89.50
Michael J. Malpede, analyst at Easy Forex comments: JPY traded higher supported by safe haven flows sparked by a drop in global equity markets and a wave of pessimism about the global recovery. (…) Key technical levels to watch in USD/JPY include support at 88.01 the October 7th low with resistance at 90.40 the November 13th high.