FXstreet.com (London) - Nikkei has posted small gains this session up 25bps, despite gapping open nearly 0.75%. Improving balance on the Yen (JPY softening) was cited for the bullish open, as largely flat US markets could not be wholly attributed to the early rise.
USD/JPY trades at 92.13, up nearly 20 pips. Dollar has strengthened broadly this session against its major pairs, and this seems to show in USD/JPY performance so far.
In the unlikely case of a sharp move in the session, Valeria Bednarik, collaborator at Fxstreet.com guides us on the technicals: After breaking above 91.85 past week high, pair halted the rally just under 92.10 resistance area, unable to extend the rally due to low volumes ahead of holidays…. suggesting bullish rally is not over: above 92.10, expect the pair to approach to 91.40 area, while corrective downside movements should remain capped above 91.30.