Forex: USD/JPY jumps towards 94.00 (San Francisco) - The US Dollar has finally jumped against the Japanese Yen after a previous period of consolidation. The USD/JPY advanced 60 pips in the last few minutes from 93.35 to reach intra-day highs around 93.90. Currently the pair is pricing at 93.85, 1.20% positive on the day.

Japan will be publishing consumer confidence, machinery tool orders and GDP data during the week before Thursday's BoJ monetary policy decision. Given that current Governor Shirakawa is due to leave soon and the most anticipated meeting happened last month, little is to expect this time.

“We favor a test of the strong resistance at 94.99. An initial resistance is at 94.06 (06/02/2013 high)”, wrote analyst Igor Sayadov, pointing to support at 91.98 (05/02/2013 low) and at 90.33.