Hard to say really, the market is thinning out now with the US observing ‘Thanksgiving’ today and the Japanese ‘Labour Thanksgiving’ holiday tomorrow but a strong Nikkei is helping the cause for the USD bulls.
There are some reasonable bids down in the 82.20/30 area from momentum/macro funds and Japanese real money. Offers sit up from 82.60 up to barriers at 82.75, with very large offers reportedly in front of 83.00 (also a barrier) and equally large buy stops just above
Personally i reckon we still edge higher, albeit laboriously,( but then i’m a perma USD/JPY bull), and target the late March/early April highs around 83.30/40 ahead of a full retracement of the fall from 15 March highs of 84.19.
USD’s presently parked around 82.45 after Asian highs of 82.59
