USD/JPY - Making 6-Year Highs
USD/JPY has broken the major resistance at 110.66 (15/08/2008 high), confirming the longterm underlying uptrend. A support can be found at 109.90 (03/10/2014 high).
A long-term bullish bias is favoured as long as the key support 100.76 (04/02/2014 low) holds. The break of the major resistance at 110.66 (15/08/2008 high) opens the way for further rises towards 114.66 (27/12/2007 high) and possibly 120.04 (61.8% retracement of the 1998-2011 decline). A key support lies at 105.44 (02/01/2014 high).