FXstreet.com (Córdoba) - Greenback was able to get back above 92.00 against the Yen and currently is testing a resistance zone at 92.25. If it breaks above, the next one lies at 92.50. USD/JPY has a support at 91.80 and below at 91.50. The Yen continues to lose strength against the Dollar but is consolidating gains against the Euro.
The pair trades at 92.19/23, 0.15% above today's opening price and is rising for the fourth consecutive day.
The FastBrokers Research Team affirms: The recent upturn in the USD/JPY supports the BoJ's more hawkish monetary stance. Therefore, analysts are expecting the BoJ will stick to its tighter approach towards monetary policy considering the USD/JPY is back above 92. Japan will roll out a couple econ releases between now and then, including Retail Sales late Tuesday EST followed by Prelim Industrial Production late Wednesday EST. While investors are expecting an improvement in Retail Sales due to the appreciation of the Yen, Prelim Industrial Production should carry more weight since Japan's economy is export-focused.