FXstreet.com (Barcelona) - Dollar uptrend from December 9 low at 87.35 was capped on Friday at 89.80 high, and the pair has pulled back to find support at 88.30/35 area on Monday's European session.

The Dollar, however, remains biased to the upside, according to Peter Rosentreich, technical analyst at ACM - Advanced Currency Markets, on its way to re-test 90.76 resistance: USDJPY climbed above the pivotal 88.50 levels on Thursday (50% retracement of the rally from 84.80 to 90.76), and as such our bias remains bullish, waiting for a retest of 90.76 highs.

On the downside, the Pair is trading right above the 3 week up trend support, says Rosentreich: Friday's US data helped propel us to a high of 89.81, but since then we have pared back gains; tumbling to a low of 88.32 where the 3 week up trend support comes in. Below there are plenty of support levels to lean on; coming in at 87.10 (61.8% fib retracement level), 86.55 and 85.85.

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