USD/JPY rebounds but fails sustain above 107.00

FXStreet (Córdoba) - USD/JPY rebounded and climbed to 107.17 but it was unable to hold above 107.00 and pulled back, as stocks in Wall Street move off session highs.

The pair bottomed earlier at 106.65, the lowest price in a month and then rebounded sharply, rising more than 50 pips from the lows. But once again greenback had difficulties sustaining gains.

Currently trades around 106.95/99, slighty above the price it closed yesterday, but still facing pressure. The yen and the US dollar are the best performers in the currency market amid risk aversion.