USD/JPY cracks through 112 and hits its highest since late Dec. last year
We just had some Japan data:
- Japan trade balance for March: Y 528.5bn (expected Y 363.2bn)
- More on Japan export data, those to the US are up, to China down
Japanese data tends not to have too much impact but now we are 20 minutes later yen is weakening. The range is not large, but given the scale of movement we have been seeing this pop is noticeable.
USD/JPY to its highest since December 20 2018
Apart from what has already been posted I'm not seeing anything fresh in the news nor data. Sometimes you'll see the 'more buyers than sellers' comment thrown at moves (I do so myself) from time to time), although its a shorthand comment for market dynamics its often a perfectly valid comment indeed (shorthand because buying = selling all the time, but let's not split hairs).