USD/JPY shoved lower from 115.05 to 114.50
This just looks more like a bit of a let out of steam but the overall momentum is still largely sticking, though the greenback is trading more mixed across the board.
Treasury yields are holding the advance from yesterday and as long as that keeps up, USD/JPY will be able to find some support despite the latest technical setback.
Keeping above 115.00 will be the big challenge for buyers in trading this week, with the weekly chart also underscoring the technical impediment in the past few weeks:
As mentioned before, the November 2017 high @ 114.74 is a key level that buyers must keep above but preferably with a push above 115.00 to solidify the next upside leg breakout.
This article was originally published by Forexlive.com. Read the original article here.