FXstreet.com (Barcelona) - The Dollar's recovery against the Yen from 90.15 in the early American morning has continued during the session to break 90.70 MA55 hourly support and reach 91.05 as fresh daily high. Currently the pair is trading around 90.80/90, 0.25% above today's opening price action at 90.65.
The FastBrokers Research Team comments: The USD/JPY is bouncing after touching the psychological 90 level and what is now our 2nd tier uptrend line. The USD/JPY has been under selling pressure since topping at our 1st tier downtrend line. The BoJ's minutes revealed the central bank is encouraged by recent performance of the Japanese economy, and is less inclined to add more liquidity to the monetary system. In fact, the BoJ all but reaffirmed its new hawkish stance towards the Yen with the DPJ looking to install a more conservative fiscal policy supportive of a stronger currency.