USD/JPY: Making New Highs
USD/JPY has improved its technical structure by breaking the resistance at 102.68. Further short-term strength is favoured. Hourly resistances stand at 103.43 and 103.76. Hourly supports can be found at 102.68 (previous resistance) and 102.43 (27/03/2014 high).
A long-term bullish bias is favoured as long as the key support area given by the 200 day moving average (around 100.66) and 99.57 (see also the rising trendline from the 93.79 low (13/06/2013)) holds. A major resistance stands at 110.66 (15/08/2008 high).