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Forex pairs in this Article » USD/JPY (Barcelona) - The USDJPY rally is extending the distance from the 20 day ma at 90.48 and 2 month up channel at 89.91, where it remains immediately bid while above it, reinforced by the 88.20 4 month uptrend.

"Above 94.07 we have the 2010 high at 94.99 then the March 2009 spike low at 95.77", wrote Commerzbank analyst Karen Jones, pointing out that the pair has met its target of 93.32/96 (measurement higher from its triangle and the 38.2% retracement of the move down from 2007), which should act as a major resistance/target zone for this move.
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