Investing.com – The dollar was down against the yen on Tuesday, hovering above a key support at 84.00, as traders remained wary of being caught on the wrong side a further intervention by Japanese authorities.
USD/JPY hit 84.16 during European morning trade, a daily low, the pair subsequently consolidated at 84.22, shedding 0.08%.
The pair was likely to find short-term support at 84.00 and resistance at 85.76, the high of September 21.
On Monday, the Bank of Japan Governor said that the bank would continue to closely monitor the impact of the strong yen on Japan's economy, saying , "I cannot comment on foreign exchange rate levels but we are closely watching the impact of the strong yen on Japan's economy".
The yen was also up against the euro, with EUR/JPY shedding 0.42% to hit 112.94.
Later Tuesday, the U.S. was to release official data on house prices as well as a report on consumer confidence.
USD/JPY hit 84.16 during European morning trade, a daily low, the pair subsequently consolidated at 84.22, shedding 0.08%.
The pair was likely to find short-term support at 84.00 and resistance at 85.76, the high of September 21.
On Monday, the Bank of Japan Governor said that the bank would continue to closely monitor the impact of the strong yen on Japan's economy, saying , "I cannot comment on foreign exchange rate levels but we are closely watching the impact of the strong yen on Japan's economy".
The yen was also up against the euro, with EUR/JPY shedding 0.42% to hit 112.94.
Later Tuesday, the U.S. was to release official data on house prices as well as a report on consumer confidence.