USD/JPY’s rally has extended as far as 94.79, equaling the high set back in early April. Look for heavy lifting from 94.80 up through the 95.00 level as barriers are protected.
We have not been above 95.00 since August of last year.
A rip-roaring rally on Wall Street, reversing much of Friday’s slide, is helping lift USD/JPY and the other JPY-based pairing as traders look to buy carry trades.
