Forex: USD/JPY: Dollar rises above 90.70 to a fresh one-month high

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FXstreet.com (Córdoba) - The Dollar is extending last week rally against the Yen. USD/JPY broke above 90.60 breaking a range and rose to 90.97, reaching a fresh one-month high. The pair testing the 91.00 zone, if it rises above, immediate resistance could be located at 91.25/30 (Nov 4 high). Currently the pair trades at 90.92/94, 0.71% above today's opening price.

The FastBrokers Research Team affirms: The USD/JPY's longer-term downtrend is still in play. Hence, the road higher could be rocky ahead should the currency pair's positive momentum persist. Meanwhile, investors should keep an eye on broad-based activity in the Dollar since the EUR/USD and GBP/USD dropped below some key uptrend lines recently. Further deterioration in these currency pairs could yield strength in the USD/JPY.

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