By Ben Levisohn May 3 (Bloomberg) -- The dollar may rise beyond resistance at 95 yen as selling by Japanese exporters halts for three days of holidays, according to Brown Brothers Harriman & Co. The greenback advanced to 94.79 yen today, matching a seven-month high reached on April 5. A break of 95 yen may signal a rally to 100 yen, a price last touched in April 2009. Japan’s markets are closed today through May 5. “Japanese exporters believed to have capped the dollar’s upticks in the range of 94.40 to 94.70 in recent weeks may not be there now,” wrote Marc Chandler, global head of currency strategy at Brown Brothers Harriman & Co. in New York, in a research note to clients today. “At the same time, a recovery in U.S. equities and rising U.S. yields may also favor a push higher for the greenback.” The dollar has rallied 12 percent versus the yen since reaching a 14-year low of 84.83 yen on Nov. 27 as an improving economy in the U.S. spurred speculation that the Federal Reserve will begin removing extraordinary monetary policy while the Bank of Japan increases measures to combat deflation. Japan’s large manufacturers expect the currency to average 91 per dollar this fiscal year, according to a recent Bank of Japan Tankan survey. Resistance refers to areas on charts where sell orders may be clustered and signals a currency may move to the next level if it’s exceeded. To contact the reporter on this story: Ben Levisohn in New York at blevisohn@bloomberg.net

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