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Forex: USD/JPY breaks above 99.00

FXstreet.com (Córdoba) - The US dollar continued to advance against the yen during the American afternoon and finally broke above the 99.00 psychological level to hit nearly 4-year high.

USD/JPY extended gains into a third consecutive day and recently hit a high of 99.32, last seen May 2009, before pulling back slightly. At time of writing, USD/JPY is trading around 99.20/25, recording a 1.5% rise on Monday.

As the pair continues to move closer to the 100.00 mark it could face resistances at 99.60 and 99.80. On the other hand, supports could be found at 98.00/05 and 97.30 and 97.00.

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