The Yen gained versus all of the 16 majors after weaker Consumer Confidence in the U.S and lower German IFO Business Climate boosted the appeal for the safety of the Yen. Trade Balance came out stronger with 0.73T versus 0.51T expected. Overall, USD/JPY traded with a low of 89.92 and a high of 91.29. USD/JPY has turned downwards after it failed to break above its daily 200 moving average. The pair has two important support areas, 90 and 89.50 which are likely to slow down its downtrend. No economic data expected today.

USD/JPY-Last: 90.20

Resistance

90.65

91.00

91.20

Support

90.00

89.75

89.25

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