USD/JPY up through 101.50 to 101.57 and on the way to testing the overnight highs at 101.77. We found it sticky in the 101.55/65 area yesterday so we may see a bit of that again today.

USD/JPY h1 chart 05 02 2014

USD/JPY h1 chart 05 02 2014

Markets are moving in a very dollar denominated way just now rather than risk on/off as the euro heads south to 1.3505 and the aussie turns below 0.8900.