Forex: USD/JPY: Dollar rockets to 90.00

  @ibtimes on December 04 2009 11:57 AM

FXstreet.com (Córdoba) - The Dollar is rising sharply across the board on Friday after a much better-than-expected employment report. USD/JPY jumped 160 pips from 88.45 to 90.03, reaching the highest price in three weeks. Currently trades at 89.82/86, 1.92% above today's opening price. The pair has risen in the last four day accumulating an increase of more than 350 pips. On the upside the next resistance lies at 90.20/25 and above at 90.60 (November 12 low).

The FastBrokers Research Team affirms: Technically speaking, today's pop in the USD/JPY is certainly an encouraging development for the currency pair's uptrend. However, the USD/JPY must now face it's highly psychological 90 trading range it has had so much trouble with in the past. Therefore, the USD/JPY could hit some sizable resistance relatively soon.

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