Forex: USD/JPY falls and trading below 90.44

Thu, Mar 11 2010, 01:38 GMT
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FXstreet.com (Sydney) – The USD is falling against the yen and is trading at 90.44. Earlier, the pair had opened at 90.51 and set an intraday high of 90.55. However since then, the pair has maintained downward tendencies in the hourly charts. The USD/JPY finds support at 90.1740, resistance at 90.7162 and is considered slightly bearish.

Growth was revised downwards in Japan during the last quarter in 2009. This was the result of a fall in company spending as well as prices. GDP was revised to 3.8% down from 4.6% reported last month. Business spending remains weak and the Japanese government will review economic growth figures tomorrow. Business investment has fallen for the 11th consecutive quarter.

USD/JPY

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