Published by Jamie JemmesonThe US dollar may hit a four-month high against the yen, according to technical analysis by Singapore-based Forecast.Speaking to Bloomberg, Pak Lai Ng, a technical analyst at the company, said the greenback could climb to 93.50 against the yen if it manages to close above the 91.87 mark.He said that the latter resistance point forms the downward trend line for a 'pennant' pattern, whereby ascending and descending trend lines intersect to create a triangle."The bias is still positive. It's a very small pennant and a continuation pattern. The next level would be the October high [of 93.32 yen]," he told the news provider.In today's (December 29th) trading, the dollar touched a two-month high against the yen, with support for the greenback growing amid speculation that the Federal Reserve will begin withdrawing fiscal stimulus measures propping up the US economy.Bloomberg data also showed the dollar on course for a second day of gains against the euro.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site