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USD/JPY trips stops above 104.50, US soars across the board

FXStreet (Bali) - USD/JPY has been boosted aggressively since the Tokyo fix - 00.50 GMT -, tripping stops above 104.50 and setting a new high at 104.64, taking the USD higher across the board.

Peter Fell, Analyst at FXBeat, noted that "USDJPY was supported by higher UST's and a rising Nikkei, now up 0.8%, larger than usual Tokyo buy fix also aiding the upmove, the high so far has been 104.61."

Technically, Beyond 104.50 sees 105.00 (talk of barrier interest). Beyond that, according to Jim Langlands, Founder at FXCharts, "we are eventually headed back up towards the 200 month MA at 106.50." On the downside, 104.50, 104.40 and 104.25 are the next supports.

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