FXstreet.com (Córdoba) - Once again the recovery of the Dollar against the Yen found resistance. USD/JPY rebounded at 89.60 and fell to 89.20. Current price at 89.35/40 is 0.35% below one it had at the beginning of the day. The pair has been moving sideways in the last hours, after failing to rise above the resistance zone at 89.70 and also, after finding support at the 89.15 area.
Andrew Wilkinson, senior analyst at Interactive Brokers, affirms: The yen surged in Tokyo trading as more of the same comments were unleashed upon forex traders. Mr. Fujii said he didn't consider the recent movements in the yen as carrying excessive volatility. Readers should interpret this to mean that the yen's surge against the dollar to its strongest price since February was not cause for concern under the new government.