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USD/JPY: Making New Highs
USD/JPY has made a higher high. Hourly supports can be found at 89.23 (intraday low) and 88.73 (61.8% retracement of the rise from 87.79 to 90.25).
USD/JPY has validated a long-term bullish trend reversal formation by breaking the strong resistance at 85.53 (06/04/2011 high). The first long-term objective is the key resistance at 94.99 (04/05/2010 high). Another key resistance can be found at 101.45 (06/04/2009 high).