USD/JPY Outlook For October 31, 2014

USD/JPY is at 7 year highs after last night’s unexpected move by the BoJ. There is an important trend line on the monthly chart that was violated last night. If current strength persists and price remains above 110, the pair could target 120 and make a significant higher high after a long long time.

USD/JPY, monthly chart:

USDJPY(Μηνιαία)20141031125851

Chart courtesy of Investing.com. http://Investing.com

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