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Forex pairs in this Article » USD/JPY (San Francisco) - The USDJPY continues to trade with a positive bias as the yen remains weak across the board on expectations of more monetary stimulus by the BoJ after next month's election.

So far this Monday, spot is inching higher, having just pushed above the 81.45 resistance area (Nov 15 high) to fresh 7-month highs above 81.50 (61.8%, 80.57/77.12 decline); price has so far climbed as high as 81.57.

According to Valeria Bednarik, Chief Analyst at, the pair holds "an overall bullish tone, both in the short and the midterm," she explains in a research note. She also notes that a bullish break higher "will deny the possibility of a downside correction and open doors for a ride towards 82.50." If the bullish momentum for USDJPY persists, the analyst identifies resistance at 81.70 and 82.00, while support levels may be found at 81.10, 80.80 and 80.60.
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