Forex: USD/JPY breaks above 84.00 and prints intra-day highs

FXstreet.com (San Francisco) - The US dollar is extending its advance against the Japanese Yen and after rising 25 pips in the last hour, the USD/JPY has broken above the 84.00 level and reach fresh intra-day highs at 84.20.

Currently the USD/JPY is trading at 84.15, 0.30% above opening price action. "The notion is bolstering the USDJPY further," comments FXstreet.com analyst Richard Lee. "With support at 83.82 reinforcing the upward bias, the USDJPY pair could extend higher towards 84.50 in the short term on a break of the 84.34 resistance barrier. Any correction would like be met with support, initially, at 83.69 and then at 83.19."

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