Forex: USD/JPY unstoppable above 91.50

FXstreet.com (Barcelona) - The unstoppable USDJPY is making yet another fresh 31-month high around the 91.80 level, highest since June 16 2010, up +0.71% for the week so far. The pair has printed a new weekly high at 91.81, bouncing from daily lows at 90.73 made by late yesterday's Asia-Pacific session, more than +15% higher since general elections were called for Japan past mid November.

Nikkei index managed to closed yesterday above the 11100 points mark, advancing +0.22% for the day, with futures pointing for a flat open today, highest since May 2010, while US SP500 closed down for second consecutive day, this time by -0.26%. Key China manufacturing PMI data will be out at 01:00 GMT, as main risk event for the local session. Japan household spending and unemployment rate will be out as well at 23:30 GMT, ahead of most important of all US NFP later on in late London session.

To the upside, closest resistance for USDJPY shows at Feb 19/June 14 2010 highs 92.10/1, followed by Oct 27 2009 highs at 92.33, and Sept 21 2009 highs at 92.53. To the downside, immediate support lies at Wednesday's highs 91.41, followed by Monday's lows at 91.26, and yesterday's lows at 90.72.