FXstreet.com (Barcelona) - Dollar has continued with its break-up above 89.30 against the Yen during the European session and the pair has risen around 65 pips in the last hour to hit intra-day high at 90.15, currently the USD/JPY is trading around 90.00/10, o.75% above today's opening price action, in consolidation mode.
Gold prices are going down today with the metal losing 1.0% so far to trade below 1,055, on a correctional movement which could be supporting Dollar gains.
The ecPulse.com analysis team, comments about the Dollar recovery: Today, we see that the dollar is in correction versus major currencies, while there is rising confidence that were led from company reporting profits, supporting the fact that a global economic recovery has started to become visible. However, when investors become confident, they tend to turn to higher yielding currencies, while selling lower yielding currencies that hold back the dollar from rising.
In the USD/JPY band, ecPulse affirms: The dollar yen pair breached the resistance of 90.09, while heading towards the next resistance of 90.50, as the dollar is clearing the way to markets. The USD/JPY is being traded at 90.12, while recording a high of 90.15 and a low of 89.26, where the momentum indicators are revealing an upside trend.