USDJPY: Bullish breakout at 97.87

Saturday, October 12, 20130 comments

USD/JPY has broken the strong resistance of declining trend line at 97.87 which is also 03 October 2013 high. A new trend of strength is favored. Next Resistances stand at 98.73 (01 October 2013 high) and 99.67. Hourly supports are at 97.92 (intraday low) and 97.62.

In the longer term, the technical configuration since the 22 May peak at 103.74 looks like a pause within an underlying uptrend. A significant support stands at 95.81. A key resistance stands at 101.53.
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