FXstreet.com (Córdoba) - The Dollar is soaring across the board; against the Yen rose to 91.87 reaching the highest price since October 27. USD/JPY currently trades at 91.70/74, 0.57% above today's opening price. The pair is rising for the sixth consecutive day and has accumulated an increase of 550 pips since the beginning of December. To the upside the resistance levels lie at 91.90 (intra-day high) and above at 92.30 (Oct 26, 27 highs).
The FastBrokers Research Team comments: Impressive housing data may allow the USD/JPY to piece together further intraday gains. The U.S. will release more housing data tomorrow in the form of New Home Sales along with the release of Britain's Monetary Policy Minutes. Hence, we may witness further volatility in the FX markets due to the combination of key econ data releases and lower volume as investors take off for Christmas vacation.