FXstreet.com (Córdoba) - The fall of the Yen across the board eased in the last hours. USD/JPY is pulling down from the highs of the day. The pair peaked at 88.48, reaching a one-week high. The pair then pulled back to 88.10 and currently trades at 88.13/17, 0.89% above today's opening price. Greenback is rising for the third consecutive day accumulating an increase of more than 200 pips.
On the downside support levels lie at 87.90 and below at 87.55/60. If the Dollar rises further it could face resistance at 88.60/75 congestion area and above at 89.20 (Nov 2 low).
The ecPulse.com analysis team affirms: The yen is rebounding after the Japanese Prime Minister announcement yesterday that the yen's appreciation is not accepted. The pair has breached resistance level at 87.83 which represents 23.6% Fibonacci retracement to the downside trend that started on August 10. Now, the pair is trading around 88.19 after hitting a high of 88.47 and a low of 87.32.