The Japanese yen gained strength against the U.S. dollar on Monday as the Bank of Japan kicked off a two-day meeting. Comments by an aide to Prime Minister Shinzo Abe about the yen weakening too rapidly against the greenback may be bolstering the Japanese currency.
In Asian trading Monday, USD/JPY fell 0.44% to 89.70. The pair was likely to find support at 87.80, Wednesday's low, and resistance at 90.25, today's high. Last week, USD/JPY traversed 90 for the first time since mid-2010.
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