Forex: USD/JPY weaker and trading at 89.29

Tue, Feb 9 2010, 02:35 GMT
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FXstreet.com (Sydney) – The USD/JPY continued its run of losses against the dollar and is currently trading at 89.29. The pair has had mixed fortunes during the offshore session since opening at 89.24. The USD/JPY finds support at 89.0468, resistance at 89.6135 and is considered slightly bullish.

The dollar has been the main beneficiary of risk aversion, lifting against all major currencies. Waekness in the global economy as well as the underlying weakness in the US is helping to boost the dollar. Reports later this week on machine orders in Japan may shed further light on the strength of the Japanese economy and may influence the pair’s price further.

USD/JPY

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