USD/JPY Classical 03.31
USD/JPY: Has been very well supported on dips, and we look for the most recent sharp rebound to accelerate gains back above critical medium-term resistance at 93.75. The impressive rally beyond 93.00 reaffirms our outlook with the market now threatening a push to fresh 2010 highs as well. Above 93.75 exposes 97.80 further up. Look for any setbacks to be well supported ahead of 91.50.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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