The sharp topside reversal in USD/JPY has traders scrambling for resistance levels to lean against. We’ve already overcome the Asian session high of 93.82 and extended the range a few pips to 93.87 before stalling. The next level to watch is the 94.03 level, a trendline drawn off the 94.81 trend highs set on Monday and the 94.39 high posted yesterday.

7-22-jpy