FXstreet.com (Córdoba) - The Dollar manager to recover against the Yen after falling to 88.65 during the European session. USD/JPY rebounded sharply and jumped to reach levels above key resistance at 89.40. Currently the pair trades at 89.44/48, 1.21% above today's opening price action.
The pair peaked at 89.58, posting the highest price in three days. On the upside, immediate resistance lies at 89.70 and above at 89.95/90.00 (Oct 5 highs).
The ecPulse.com analysis team affirms: The yen is like major currencies; tumbling against the dollar's climb, while the pair is being traded at 89.23 between the support of 89.11 and resistance of 89.70. Contrary to other pairs, the momentum indicators on the one-hour chart are indicating an upside trend.