Investing.com – The U.S. dollar's rally against the yen on Monday faltered at 94.35, a 3-week high the pair hit amid hopes that an EU-IMF rescue package for Greece will arrive in time to avert the euro zone's first sovereign debt default.
USD/JPY subsequently retreated to 94.02 during European morning trade, gaining 0.06%. The pair was likely to find short-term resistance at 94.69, the high of April 2, and long-term resistance at 97.78, the high of Aug. 8 last year; USD/JPY was likely to find support at 92.53, last Monday's low.
Meanwhile, Bank of Japan data showed on Sunday that the price of services purchased by corporations in Japan dropped slower than expected in March from a year earlier.
The central bank said its corporate service prices index fell 1.1% during the month, after a drop of 1.2% in March last year, whose figure was revised down from 1.3%. Economists had expected a decline of 1.3% in March this year.
Also Monday, the yen climbed against the euro, with EUR/JPY shedding 0.39% to reach 125.3.
USD/JPY subsequently retreated to 94.02 during European morning trade, gaining 0.06%. The pair was likely to find short-term resistance at 94.69, the high of April 2, and long-term resistance at 97.78, the high of Aug. 8 last year; USD/JPY was likely to find support at 92.53, last Monday's low.
Meanwhile, Bank of Japan data showed on Sunday that the price of services purchased by corporations in Japan dropped slower than expected in March from a year earlier.
The central bank said its corporate service prices index fell 1.1% during the month, after a drop of 1.2% in March last year, whose figure was revised down from 1.3%. Economists had expected a decline of 1.3% in March this year.
Also Monday, the yen climbed against the euro, with EUR/JPY shedding 0.39% to reach 125.3.