Forex: USD/JPY capped at 89.95, eases to 89.40

By IBTimes Staff Reporter | December 16 2009 2:30 AM

FXstreet.com (Barcelona) - The Dollar went through a remarkable recovery on Tuesday, extending rebound from Monday low at 88.30 to levels past Dec 11 high at 89.80 to reach a fresh one-week high at 89.95 before easing, during Asian session, to 89.40 low.

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Dollar's uptrend short-term bias remains intact, and the pair trades at the moment at 88.55, with next resistance levels at 89.95 (Dec 15 high), and above here, 90.10 and 90.45 (Dec 7 high). Initial support level, at the moment, lies at 89.35/40 (Dec 14 high/session low), and below here, 89.00 and 88.60 (Dic 15 low)

EUR/JPY recovery from Monday's low at 129.15 found resistance at 130.70 on Tuesday's U.S. session and the pair eased to 1.2995 area during Asian trading hours. At the moment, the Euro advances at 130.25, with next resistance levels at 130.70/75 and 131.05. Support levels lie at 129.95/00 and 129.55.

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