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Forex: USD/JPY breaks above 93.00 mark

European money allowed a return to the daily highs printed during the Asian shift, at 92.80, but the market didn't stop there. The session opening allowed a move higher and a rally to the 93.00 mark, with a new high at 93.13. The pair runs strong, at 93.09 (+0.34%) and threatening further gains.

Japan's monetary base eased from 11.8% to 10.9% in January, failing to reach the expected 13.2%. EMU Sentix Investor Confidence improved from -7 to -3.9 in February, still not as high as the expected -3. Spain added 132.10K unemployed in January, not as much as the 150K expected, but still a very negative change, taking in account December's -59.1K drop.

“Break above psychological 93.00 barrier, to open 93.75, Jan 2010 high and 94.00, round-figure, with dips, expected to find ground at 92.00 zone, 55 day EMA”, wrote Windsor Brokers analyst Slobodan Drvenica, pointing to 92.50 as first support.

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