USD/JPY rallies and it could hit new highs anytime. The up-channel is still intact, so the pair could try to move towards the upside line.
Now it has managed to jump above the 110.87 level which has represented an important upside obstacle. Stabilizing above it could really confirm further growth.
Trading Conclusion!
Passing above the former highs signaled strong buyers and an upside outlook. It could resume its growth if it jumps and stabilizes above the 110.00 level.
The material has been provided by InstaForex Company - www.instaforex.com