FXstreet.com (Sydney) - The USD/JPY continues to lose ground and is now priced at Y89.12. The USD/JPY opened lower than yesterday's close at 89.03 before posting an intraday high of 89.14. There pair finds support at 88.77 and resistance at 89.26.
The Yen rose against a dollar further weakened after a speech by Ben Bernanke in New York. Commodities also rose
following the speech. Mr Bernanke indicated that the Fed will continue its current approach to the US economy in keeping interest rates at historic lows. While this is unlikely to help the dollar, Mr Bernanke also said that the US central bank is closely monitoring the dollar aiming for price stability.