USD/JPY trades up to a high of 114.07 on the day
Yen pairs continue to look buoyant this week and USD/JPY is running into key resistance at 114.00 currently, breaching the figure level for the first time since November 2018.
The weekly chart underscores how important a resistance level this is and with today being a Friday, the closing mark will be pivotal in gauging sentiment going into next week - at least from a technical perspective.
Now, there is some added resistance from the highs over the past few years around 114.36 to 114.74 so that may arguably add to additional layers that buyers need to chew through in order to extend the upside momentum.
However, a break above that area will leave little in the way of a push towards the December 2016 and January 2017 highs near 118.00 next for the pair.
It's all about the technicals right now for yen pairs, with GBP/JPY also flirting with a break above the year's highs at 156.08 and eyeing the January 2018 high at 156.61:
Meanwhile, NZD/JPY has also broken to fresh highs for the year above 80.00 - also to its highest since January 2018 and we're seeing CAD/JPY extend a breakout to its highest since November 2015 with upside looking to run further:
