USD/JPY Broke Over The Channel Resistance After 9 Weeks

January 12, 2013 in Uncategorized

Even though the upward momentum has been strong for USD/JPY but the currency pair was still moving within a slopping up parallel channel.

USD/JPY Weekly Chart

USD/JPY Chart with resistance levels

The break over this channel resistance was strong and indicates that further gains can not be ignored. 90.00 is a critical psychological resistance but in case USD/JPY manages a break over that then the next resistances based on the historical price action are 92.86 and then 94.98 which is also very critical because of the psychological pressure of not only 95.00 nut 100.00 territory.

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