Bad news and dollar goes up, what gives?
The buck certainly isn't up because the durables came out all rosy. We look to be rallying on the fact that it wasn't worse than expected
That's always a tough trade to piggyback on so watch for signs of traders waking up to reality and taking it lower again.
120.50 is where we need to get above to give this rally a real chance, followed by 120.75/80
USDJPY 15m chart
