The rallies push on
GBPUSD is attacking 1.2900 right now as it pushes further from the 1.2831 lows, while EURUSD is attacking yesterdays highs around 1.0935, from lows around 1.0875.
The data hasn't been a catalyst for these moves, which were well on their way before those.
There's a mix of USD and yen weakness playing out as the yen crosses are rising while other USD pairs are falling. USDJPY is stuck in the eddying current. FYI, desks are noting that there is some heavy selling interest in USDJPY around here (being the Ichimoku cloud top) from Japanese corps who have set large offers ahead and for over the holidays.
USDJPY H4 chart
Technically, the 113.00 level could be fairly strong but don't rule out some hefty stops sitting just above. Support has already come in at 112.60, and it's done that before ahead of the famous 112.50 level. If we see a strong rejection of 113.00, that's the area buyers will want to hold to keep another attempt on the cards.
Elsewhere, watch the highs in the euro from here to last week's 1.0950 highs and a break will set sights on the big 1.10.
