Forex: USD/JPY rises above 90.60

Thu, Nov 5 2009, 19:12 GMT
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FXstreet.com (Córdoba) – The Dollar is recovering further against the Yen but at a very slow pace. USD/JPY is testing levels above 90.60 and trades at 90.64/66, 0.07% below today’s opening price. The pair fell during the Asian session to 89.97, posting the lowest price of the last two days. Since then, Greenback has been rising at a slow pace. The next resistance lies at 90.85 and above at 91.00/05.

Michael J. Malpede, analyst at Easy Forex affirms: “JPY upside is limited by report of a bigger than expected decline in US jobless claims and stronger US equity market trade. The jobless claims report boosted demand for equities and encouraged a rewind of risk.”

USD/JPY

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