Forex: USD/JPY breaks 91.85 resistance and hits 2-month high

 @ibtimes
on December 29 2009 11:20 AM

FXstreet.com (Barcelona) - After repeatedly failing through the week, the USD/JPY finally broke through the 91.85 resistance and has already set a new two-month high of 92.01.

The break-out comes on the back of improved consumer confidence and decent housing price figures which indicate the continuing recovery of the US economy.

According to FXstreet.com collaborator Valeria Bednarik, the pair is now pointing to further gains above 92.15 likely to accelerate into the 92.40 area.

Support levels are found at 91.30 91.10 90.80 with resistance levels at 91.85 92.10 92.40.

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