The dollar fell against the Japanese yen during Asian trade on Tuesday, as Japanese markets reopened after a holiday. The YSD/JPY fell to a low of 78.77 as traders are focusing their attention on Federal Reserve Chairman Ben Bernanke’s testimony before Congress, as investors expect dovish comments. The Japanese currency held its ground against other currencies as the EUR/JPY fell to a six low of 96.65.
A break of the 1.0300 level will retest the 1.0330 resistance level which could see a further extension of the rally towards the 1.0370 and 1.0390 levels. Support at 1.0240 and 1.0200.
