FXstreet.com (Sydney) - The JPY gained on the USD and is trading at 88.86. The pair had earlier opened at 88.96 posting an intraday high of 89.04 but had since fallen slightly. Outlook for the pair is slightly bearish, finding support at 88.57 and resistance at 89.13.

The market awaits the release of BoJ minutes from its last meeting and this may place additional pressures on the pair. There are speculations also that the BoJ may also intend to keep interest rates at near zero.