The US dollar has rallied against the Japanese yen on Monday, breaking above the top of the shooting star from the Friday session.
The US dollar initially rallied against the Japanese yen on Friday, reaching towards the previous uptrend line.
The US dollar initially fell on Thursday but then turned around to rally a bit.
The US dollar was rather quiet against the Japanese yen during the trading session on Thursday, which of course makes sense as we are awaiting the jobs number today.
The US dollar fell again during the trading session on Wednesday, looking towards the 106.50 level.
The US dollar has been very volatile against the Japanese yen during February trading, dropping down as low as 106 before rallying a bit.
The US dollar has gone back and forth during the week, testing the 108 handle for support, an area that has clearly been an area of interest for the buyers over the last year,
There is no doubt that the minutes of the last Federal Reserve meeting helped the USD to achieve gains against other majors
The USD/JPY will depend today on the details of the latest meeting for the Fed Reserve to stop the losses which took the pair to the support level at 112.05.
The US dollar has been reasonably positive against the Japanese yen over the last several months, and it looks likely that we will continue to see buyers underneath.
The US dollar had to rally during most of the month of October against the Japanese yen, but as you can see, we continue to find resistance at the 114.50 level above.
The pair is waiting for the market reaction towards the Fed policy and the elections in the Euro zone to resume its climb or continue the reaching lower support levels.
The USD/JPY pair has seen a massive explosion to the upside over the last several weeks.
This has been one of the most explosive markets in the Forex world over the last couple of months. November was an absolute monster of a month, as we essentially gained 14 handles. That’s an incredible move, and it shows that there is real bullish pressure in this marketplace.
The USD/JPY pair fell during the last week of August, but found quite a bit of buying pressure just below the 105 level.