USD/JPY looks like it is trying to beakdown to the base of the triangular consolidation that has contained price action for more than a month. 97.12, the April 30 low is the first important area of support, followed by 96.27, the base of the triange. We through some upside levels out there late last week in EUR/USD and darned if they weren’t breeched barely before the pixels were dry…
97.65 and 98.00/05 are resistance levels on the short-term charts this afternoon.
