FXstreet.com (Barcelona) - USD/JPP has risen 1.32% from the 98.55 opening price to reach a fresh highest since November 4th 2008. Since the beginning of the European session, the pair has risen around 110 pips form 98.78 to 99.90. Currently, the pair is risen 1.05% on the day, as the pair is back around 99.45/65.
Yesterday, USD/JPY fell 0.79% from the opening price at 99.33, reaching 99.46 as maximum and 98.22 as lowest, to close at 98.54.
According to the Swiss e Trade Strategy Team, USD/JPY could see a correction movement: The dollar is about to meet an important long-term resistance zone at the 99.50 to100.00 level against the yen. Currently trading at 99.45, we expect the upward momentum to run out of steam in today's market and see a downward correction to the 98.50 mark.