FXstreet.com (Córdoba) - Following a phase of consolidation, USD/JPY gathered momentum and broke its daily range to the upside as risk appetite suddenly surged during the American afternoon, sending stocks to fresh session highs in Wall Street.

USD/JPY rose over 40 pips within the last minutes and printed a fresh daily high of 92.40 but paused at that level, as it did yesterday. At time of writing, USD/JPY is quoting around 92.30, where it is 0.4% above its opening price.

In terms of technical levels, should the dollar extend its rally, next resistances are seen at 92.80 (100-hour SMA) and 93.00 (psychological level). On the other hand, supports could be found at 91.33 (intraday low), 91.00 (psychological level) and 90.85 (Feb 25 low).