JPY crosses/Technical Analysis/USD/JPY

USD/JPY back above 80.00; AUD/JPY important resistance at 83.55 now looms

Not so much fanfare this time, but perhaps that means that the move can have more legs this time? The market is still short of JPY, but not at extreme levels anymore amongst the big speculators, so the signs are positive for USD/JPY bulls.

Sell orders are reported starting at 80.20 so that might be a good place to book interim profits.

EUR/JPY and AUD/JPY are also edging higher with the latter now back above 83.00, with next important technical target at 83.55 prior daily highs.

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