USD/JPY hits a fresh high of 105.27 on the day
The push above 105.00 is continuing for the pair as the dollar continues to see more of a tailwind this week with EUR/USD now cracking below 1.2000.
That puts buyers in a good spot now to move towards a potential test of the 200-day moving average (blue line) @ 105.58 next.
That will mark a key line in the sand for the pair as it hasn't traded above both its key daily moving averages since June last year - which owed to a brief break higher in Treasury yields from 0.70% to 0.95% before retracing back into range.
This time around, yields are staying supportive somewhat and the dollar is also gathering some added momentum from a technical perspective.
There is still some degree of skepticism to the break here but it is tough to fight the charts when things do play out in such a manner at times.
