USD/JPY

USD/JPY session outlook: Bulls firmly in control

This pair looks and feels very bullish and as I said below in my weekly preview, there is plenty of time before the general election for the market to build some big positions so fighting this trend could be a dangerous occupation. That said, there is very solid technical resistance at 81.50 and also barrier protection ahead of the same level, and this might slow bullish momentum today. I’d wait and see what happens at 81.50.

BOJ minutes from the last meeting will be released a little later today and otherwise the market will rely on swings in sentiment.

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