We’ve stalled twice in the 78.74/77 area in USD/JPY. The rule of threes (third time’s the charm!) suggests this is our big chance for a break-out.
I’d be wary of jumping on board the bandwagon late. Traders report solid Japanese selling from 78.80 up through 79.00. Might be worth trimming longs on the approach of the week’s highs.
US 10 year yields holding below important resistance on the yield charts around 1.72/1.73%.
