Dec 2002 high at 125.79 tested on the strong US employment
The USDJPY has surged higher on the back of the stronger than expected US employment report. The pair is up testing the December 2002 high at the 125.79. The high price has come in at 1.25717 so far. A break above the level will open up the door for further upside momentum. There is not much resistance on first look until 126.00 and 126.86 (but will be searching).
Looking at the four-hour chart, the pair has topside trend line resistance at the 125.80 and 125.88. This dovetails nicely with the 125.79 high from Dec 2002 and explains the stall at the area. Above that and there is not much resistance until 126.38 on this chart.
