USD/JPY: Pausing in its Underlying Uptrend
USD/JPY moved sideways yesterday near the resistance at 99.74 (07/05/2009 high, see also psychological resistance at 100). Hourly supports can be found at 98.30 and 97.19.
USD/JPY has validated a long-term bullish trend reversal formation by breaking the strong resistance at 85.53 (06/04/2011 high). A move towards the key resistance at 101.45 (06/04/2009 high) is expected.