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USD/JPY: The Key Resistance at 80.62 Has Been Breached

USD/JPY has moved above the resistance at 80.62. The next resistance is at 81.78. An hourly support can be found at 80.45 (06/11/2012 high). Another support can be found at 80.12 (intraday low).

USD/JPY is likely in a long-term bottoming process. A sustainable break of the key resistance at 80.62 (25/06/2012 high) would open the way for further medium-term strength. A strong long-term resistance is at 85.53 (06/04/2011 high).

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