FXstreet.com (Córdoba) - Greenback continues to rally on Thursday against the Yen. USD/JPY broke above 90.00 and rocked to 90.78, posting a fresh intra-day high and the highest price in two weeks. On the upside, the next resistance lies at 90.90. Currently it trades at 90.60/62, 1.40% above today's opening price action.
The Dollar has risen more than a 120 pips in the last three hours, breaking important resistance levels suggesting that the pair could rise further in the next sessions.
James Hyerczyk, from ForexHound.com comments: The December Japanese Yen is posting a loss this morning, triggered by a combination of news and technical factors. The Japanese Yen started to feel pressure after Japanese Finance Minister Fujii denied saying a strong Yen was good for the economy. He clarified his position by stating that countries must not compete in devaluing their currencies.