Archived IMT (2009.01.05)

USDJPY breaks out to 4-week highs at 93.56, cheering the extended pick up in global risk appetite, which is boosting all major yen crosses. I warned in Fridays note "Risk Appetite Pushes Envelope" that a breach of 92.50 in USDJPY would be followed by a major trend line resistance of 97.50 on the weekly chart. But the interim resistance of 94.00 will... Rest of analysis available to subscribers of Intraday Market Thoughts.