FXstreet.com (Córdoba) - Greenback is recovering against the Yen after falling to a fresh 6-week low at 88.61. USD/JPY is now testing the 89.00 zone and trades at 88.97/88.99, 0.37% below today's opening price. If the pair rises further resistance on top of 89.00 lies at 89.15 and above at 89.50 (intra-day high). To the downside, support could be located at 88.60 (intra-day low) and below at 88.35 (Oct 9 low).
James Hyerczyk, analyst at ForexHound.com, comments: The Dollar is losing ground to the Japanese Yen. Repatriation of funds is helping to boost the Yen. Some traders are buying the Yen in speculation that a softening in the Chinese Yuan may be beneficial for the Japanese economy.