Here is an hourly chart of the USD/JPY pair. As you can see the 87/87.20 area has been a very important resistance/support line on many previous occasions. A confirmed breakout about this line has been brought about by speculation the the Bank of Japan will be considering currency intervention at a special policy meeting being held today. I think the gains are likely to accelerate from here and have taken a long position with a stop loss at 85.87.
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