USD/JPY has had a huge night on the town, gulping down point after point to end up bloated by more than a big figure. Now the sun’s coming up – is it time to pay the price with a big headache?
The barriers at 95.00 have been trashed with the move to 95.09 but the follow through has been absent so far – pulling back towards 94.75. Note that volumes above 95.00 were substantial.
For today, desks are reporting chatter of a continued uptrend in EUR/JPY as providing support on any dip for USD/JPY. Bids come in initially at 94.65/75 then more at 94.25/35.
Topside has sellers above 95.25 through to more barrier-related selling at 95.50.
