FXstreet.com (Barcelona) - The Dollar resumed in Early U.S. session its rally against the Yen, despite worse than expected Reuters / U. Michigan Manufacturing survey. USD/JPY has bounced from 91.25 to gain about 80 pips, crossing minor resistance at 91.80 to aim at 92.15.
Above there, the next relevant level would be 4-week high at 92.41, which will open the doors fro a rally to Jan 6 high at 94.64. Slobodan Drvenica, technical analyst at Windsor Brokers Ltd, supports the idea of a USD trading above 92 Yen: Double bottom at 89.70/81 reached on 11/12 Feb, buoys for a test on 92.00, trendline drawn off 6 Jan high. An eventual break here would signal significant near-term strength. Immediate support stands at 90.54/82.