USD/JPY has broken the resistance at 97.87 (03
October 2013 high, see also the declining trend line). A new phase of strength
is favored as long as the hourly support at 97.92 holds. Resistances stand at
98.73 (01 October 2013 high) and 99.67. Another hourly support lies at 97.62 (intraday
low, see also the rising trend line).
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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