There are few if any corporate sell orders to slow down the bullish progress and plenty of macro players are trying to jump on USD/JPY, just in case they miss ‘the big move’. Pullbacks have been very shallow since this rally began, with little more than 60 pip dips, and with Sovereign names also reportedly buying, it’s little wonder that bullish momentum is building.
Next technical resistances of note are a weekly high at 82.00 and the 100-week MA at 82.20.
