FXstreet.com (Barcelona) - The Dollar is rising against the Yen after the drop on Geithner's comments of a new global reserve currency. The pair is testing the 97.90 resistance level.
The USD/JPY has risen around 100 pips from the 96.89 to 97.97 and now is testing the 97.90 resistance. Currently, the pair is trading around 97.70/90.
According to Valeria Bednarik, FXstreet.com Collaborator, the USD/JPY is ready to break the 98.00 level: Bullish in the hourly, the pair is ready to regain the 98.00 zone for good, after rebounding in the 23.6% of the last downleg. Pair needs to break above the 98.50/60 descendant daily trend line to confirm further raises in the term. CCI points for more upside, while momentum remains flat as well as the 20 SMA.
Bednarik provide us with her levels: Support levels: 97.65 97.20 96.80. Resistance levels: 98.28 98.55 98.92