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Forex pairs in this Article » USD/JPY (Chicago) - USD/JPY continues setting new records and reaches 5-year highs above the 104 zone to sum up over 140 pips won today, erasing weekly losses and recording a monthly record of 4.13% in advancements.

USD/JPY Technical Levels

Price action reveals the pair continues pulverizing resistance to finally reach the 104 front with the strengthening of the greenback after the vote of confidence that spreads among market participants after the Fed reduced the monetary policy. Offered at 104.12, the pair navigates between the supports aligned at 103.37 (December 9th highs), 102.89 (December 16th lows) ahead of 102.60 (November 28th highs) and the resistances set at 104.87 (January 1st 2008 lows), 108.31 (May 2008 highs) followed by 110.72 (July 2008 highs).
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