JPY Daily News

USD/JPY Breaches Key Resistance Level

Following a broad based dollar rally today the USD/JPY moved above the 84.40 resistance level. The pair has tested this price a number of times in both November and December before failing to breach the resistance line.

Data released yesterday from Japan was on the positive note as the Tankan Manufacturing Index climbed to 5 on expectations of 4.

Yesterday the USD/JPY finished the day higher at 84.20 after opening the day at 83.81. The EUR/JPY was down at 111.40 following an opening day price of 111.93.

The USD/JPY continues to make new highs, indicating further bullishness may be in store for the pair. Traders may want to target the post intervention high of 85.90. Support comes in at 83.00 from the trend line rising off of the December lows.

Current Time: 05/26 23:45 GMT

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