USDJPY Break

USDJPY finally broke above the the range it has traded in for the last few weeks and once it broke 108.50 it pushed through to reach the 110 level; there is still plenty of room to move until we get close to the upper side of the bullish channel marked on our charts. The pair showed some strength only after all the other majors already moved significantly and are now showing signs of retracements. USDJPY finally broke above the the range it has traded in for the last few weeks and once it broke 108.50 it pushed through to reach the 110 level; there is still plenty of room to move until we get close to the upper side of the bullish channel marked on our charts. The pair showed some strength only after all the other majors already moved significantly and are now showing signs of retracements. The bullish bias is very much alive and we expect to see additional buying on the dips in this one.

[NP][/NP]