USDJPY taking out the 102.72 resistance

April 29, 2014 by Nanakiver3

We posted yesterday that USDJPY looked to have formed a base since the end of last weeks escalation in Crimea, this move from last Fridays lows of 101.95 has gathered pace now and has broken clear of the 102.72 highs last seen last April.

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USDJPY 1 hour chart

The next event to watch for USDJPY will be US data this afternoon but the main focus will be the FOMC tomorrow evening and then the non farm payroll data this Friday.

Keep an eye on the 61.8% fib level for the move down from 104.12 to 101.32 coming in at 103.05.