FX: Forex: USD/JPY: Dollar remains capped by 91.00 level
The Dollar continues trading range from 90.60 to 91.00 after a bullish reaction from 90.50 session low was halted right at 91.00. At the moment of writing, the Dollar trades at 91.00.
The market has based, according to Karen Jones, technical analyst at Commerzbank, and bullish trend could continue targeting 91.71: "USD/JPY we suspect the near term consolidation is complete and we look for the market to resume its bull move. We view the market as having based near term and we look for recovery to 91.75 (the July lows) then 92.55/90 (50% retracement of the sell off from August)."
Resistance levels, according to Jones, lie at 91.33, 91.75 and 92.55. On the downside, support levels lie at 89.87, 89/65 and 88.23/22.
