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USD/JPY: Stops above 115.00 tripped, trend high eyed

FXStreet (Bali) - USD/JPY has broken above the 115.00 round number, triggering some stops above, and allowing an extension of gains across all Yen crosses, with the USD being currently paid at 115.25 yens, just some 25/30 pips away from its bull trend high.

While market sources report that flows were quite thin, the accumulation of light stops above 115.00 coupled with a solid 1% gain in the Nikkei 225 heading into the close. The next sizeable smattering of offers are layered circa 115.60, recent trend high, with stops noted above this level ahead of an acceleration towards 116.00. Any intraday setback should now see strong buying interest at 115.00 ahead of 114.50/60.

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