Since October 16, USD/JPY has gained on 19 of 25 days.
The worst decline on a closing basis was 61 pips and 173 on a peak-to-trough basis.
USDJPY daily
There were some hiccups ahead of the Japanese election announcement but that has proven to be a minor speedbump. I expect something similar around 120.00 but that’s looking like a modest target at the moment — the momentum in this pair is astounding and it will overshoot before it stops.
