FXstreet.com (Barcelona) - The Dollar has finally broken the 90.50 level against the Yen in the last hour after rising around 65 pips during the American session from 90.25 to reach highest level since the first week of November at 90.90. Currently the pair is trading around 90.70/80, 0.95% above today's opening price action at 89.95.
Valeria Bednarik, FXstreet.com collaborator, comments: Gaining ground, pair has turned bullish in the hourly chart as holds above the 90.30 yesterday's high area. Bigger time frames suggest pair could extend current rally to 90.75 area, past week highs. Weekly close above that level, will support a longer term upside bias in the pair for the weeks to come, as past Asian session, BOJ state that will keep continuing fighting deflation and that suggest interventions are around the corner. Only under 90.00 support pair could revert current upside momentum.