USD/JPY: Surging Higher
USD/JPY has resumed its uptrend. Hourly supports can be found at 81.57 (intraday low) and 81.09 (19/11/2012 low). Resistance is at 83.39 (27/03/2012 high, see also declining trendline).
USD/JPY is likely in a long-term bottoming process. The break of the key resistance at 80.62 (25/06/2012 high) opens the way for further medium-term strength. A strong long-term resistance is at 85.53 (06/04/2011 high).