Not sure what’s driving the move as only just sat down, but there”s plenty of yen selling going on with both the dollar and the crosses all jumping. USD/JPY flushed stops through 107.50/55.
The numbers out of Europe this morning were mildly positive so maybe we’re seeing a move to risk, US 10’s are up to 2.24% from a low of 2.12% which might also be supporting the buck. European stocks are just off their highs and the Nikkei is running up too.
USD/JPY faces resistance up between 107.70 and 107.85
USD/JPY H4 chart 23 10 2014
