Last Fridays lows of 101.96 on the back of the escalation in Crimean has formed what looks to be a base for USDJPY the pair has now traded new session highs today and the next target for the bulls will be the 102.72.
USDJPY 4 hour chart
We have the FOMC this Wednesday evening that may course some volatility, however I think Yellen will keep her rhetoric the same as last months minutes, what will be key for USDJPY will be the non farm payroll data this Friday and a strong number above expectations is likely to be a catalyst for a break of the 102.72
