FXstreet.com (Barcelona) - The Dollar has rallied today on better than expected macroeconomic data, the ActionForex Technical Team affirms that fall from 105.7 is over: USD/JPY's rebound from 102.58 extends further in US session and break of 104.10 resistance firstly indicates that fall from 150.70 has completed after drawing support from the short term rising channel.
The odds from now on, according to the ActionForex Team, stand as follows: Intraday bias is now flipped back to the upside for 105.70 high first. Break will confirm that whole rebound from 95.77 has resumed for 38.2% retracement of 124.13 to 95.77 at 106.60. But still, resistance should continued to build up significantly as USD/JPY approaches 108.59 medium term resistance. On the downside, below 102.58 will indicate fall from there has resumed and will put 100.02 support into focus.