USD/JPY forex technical analysis
Morning folks. Late start for me today so I'm playing catch up a bit.
Yen pairs have hit the reverse gear after yesterday's one way traffic down and it's been helped by USD/JPY rising back above 120, which in turn has been helped by US 10's rising above 2.10%
120.25 is the near term target ahead of the Feb highs at 120.35/45, and then the stronger 120.70 level
USD/JPY daily chart
EUR/JPY and GBP/JPY have recovered a fair chunk of the falls over the last couple of days but they are being dragged up by USD/JPY rather than doing it on their own.
We've had a break of range in both cable and EUR/USD but we're still waiting for a proper break in USD/JPY. Until we do it means more patience is needed while holding positions.
