FXstreet.com (Córdoba) - The dollar extended its impressive rally against the yen for a second day on Thursday, as the yen remains under pressure amid expectations that Japanese lawmakers may vote favorably for tax rises, giving the Bank of Japan more room to ease monetary policy.
USD/JPY reached its highest level in a month at 80.08 at the beginning of the American session and currently quotes above the 80.00 mark where it prints a 0.7% gain on the day.
On the upside, next resistances are seen at the 80.15 area, 38.2% retracement of the 84.17/77.65 move down, followed by 80.40 and 80.50. On the downside, supports are seen at 79.90 and 79.7 0 ahead of 79.30.
