The Yen weakened versus the dollar and all majors as Japanese government called ministries to cut 10% of their budget, indicating low interest rates for a longer period. The daily trend of the pair remains bearish, with a support at 86.25. A strong break down is not unreasonable in the weeks to come and could become a shorting opportunity. Overall, USD/JPY traded with a low of 86.81 and with a high of 87.95. No economic data is expected today for the Yen.

USD/JPY-Last: 87.85

Resistance

88.00

 
 

Support

87.63

86.82

86.34

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