USD/JPY Technicals for December 29, 2014

USD/JPY’s uptrend is intact as long as price stays above 119.50. A revisit of the 7 year high (121.85) is very likely in January. Diverging monetary policies between the Fed and the Bank of Japan add to buying pressure.

USD/JPY, 5-hour chart:

USDJPY(5 Hours)20141229125332

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

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