USD/JPY climbs to highest level since May last year

Technical Analysis

Author: Justin Low | usdjpy

USD/JPY touches a high of 110.37, the highest level since May 2019

USD/JPY D1 19-02
Is this where yen pairs finally see some semblance of a breakout to the topside? The mood in equities continues to suggest a growing demand for risk in trading today but the bond market is a bit torn as seen here.

However, for once, the yen is decidedly not going to rest in between the undecided mood in the market and is erring towards more positive risk sentiment today.

I'd be more convinced of a real trending move if price can keep up a move back above 110.50 and minor resistance around 110.67. But for now, a daily hold above the 110.25-30 region is a good start for buyers to build on a further extension down the road.

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