USD/JPY is gathering some momentum and broken the USD high of 119.65, up 42 pips on the session.
The pair slid lower after the Fed minutes but event-driven USD weakness is often the shortest-lasting kind.
Other yen crosses are also showing life. After three days of brutal declines, GBP/JPY is showing signs of mounting a retracement. I like longs above yesterday’s high of 180.78 for a rally to 182.50.
GBPJPY hourly
