Commentary of the USD/JPY parity :

90.62 has been finaly broken. Then, a strong bullish movement occured, breaking the resistance at 90.95 (level of fibonacci retracement 50%) and giving us a buy signal. The parity is currently above the fibonacci retracement 61.80% (91.62) and we advise to keep long positions as far as this level is support. 91.90 has been also broken and this level could act as support. The next objective is at 92.40 and the break out of this level will give a new buy signal. However, if the level 61.80% is broken, a correction is expected and we will stay neutral, waiting for a best entry point to trade again long positions.

See the previous analysis of the USD/JPY parity of March 24, 2010