Forex: USD/JPY tests MA55 hourly at 89.05

20 November 2009 @ 07:55 am EDT

FXstreet.com (Barcelona) - The Dollar is trading higher today's session on the back of taking profit and, against the Yen, the Greenback has risen around 40 pips during the European session to break 89.90 level and test 89.05 resistance, MA55 periods at 60 minutes chart.

Currently, the pair is trading around 88.95/89.05, at the same opening price range at 88.95.

George Clement, analyst at Swiss e Trade, comments: "The dollar acted weaker again in late Asian trading against the yen, although in low volatility, and is currently consolidating in the early European market, right now priced at 88.80. We expect some recovery to set in today, but not above the 89.20 level."

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