Forex: USD/JPY looking for upside break of 84.60
Forex pairs in this Article » USD/JPY
FXstreet.com (San Francisco) - The USDJPY continues to trade at its 2012 highs and at the upper boundary of channel resistance, last around 84.50, poised to record a 9.7% advance for the year. This year's high at 84.60 is a key level to watch; "Lacking momentum, a break above 84.60 is now required to see the pair reaching the 85.00 psychological level, still possible before the year ends," comments Valeria Bednarik, Chief Analyst at FXstreet.com. "Dips are still taken as buying opportunities." Ms. Bednarik identifies support levels at 84.30, 84.00 and 83.80.