The 2008 high in USD/JPY was 112.21 and the high so far today is 112.20. The pair is trying to break through again.

There is talk of large buy stops above 112.20. More offers at 112.50, including a barrier and more buy stops above. Some technical resistance at 112.63.

After that, just watch the big figures and half figures.

USDJPY monthly chart

USDJPY monthly chart