USD/JPY rises to its highest level since 25 April 2019

USD/JPY D1 20-02

The pair is up by another 0.6% on the day currently as buyers now go in search of a firm break above the 112.00 handle. The high today touches 112.10, the highest level since 25 April 2019 - with further resistance now seen from the 24 April 2019 high @ 112.40.

Again, this comes amid the backdrop of a somewhat softer risk environment as the dollar continues to run rampant across the board. The greenback is posting solid gains against the yen, pound, loonie, aussie and kiwi today.

There have been a lot of talk on why the yen has been weakening (a few posts here, here and here) but you can't argue against what you see on the chart in times like these. As pointed out earlier in the day, this long-term break is quite something:

USD/JPY W1 20-02