USD/JPY Technical Analysis- Prices broke above resistance at 94.98, a barrier marked by the 23.6% Fibonacci expansion. Buyers are now targeting the 38.2% level at 97.52. The 94.98 level has been recast as support. A drop back below that broadly aims for the February 25 low at 90.84.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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