Against a background of bullish signals for USDJPY on the week, Monday’s trading saw sentiment improve to post a 2nd up-day and a gain of ¼ Big Fig. Prices are comfortably above their 100 & 200 day average rates and are trading towards January’s near 6 year top at 105.48.
With no sign that demand is ending, the outlook for Tuesday is to buy on the open and at 104.65, with a stop loss at 104.45. Targets are to 104.95, 105.20 and 105.48, January’s near 6 year top.
