USD/JPY: Testing recent highs at 94.10

So much for the cheap trade in USD/JPY; minor resistance at 93.70 has been taken out in the usual late-NY stop-loss squeeze and the market is approaching recent highs at 94.10. We can expect more stops above there so unless you’re already long, I’d leave this pair alone.

  1. There’s an headline that started to circulate around this massive rally

    Treasury’s Brainard: US supports Japan’s efforts to reinvigorate growth, end deflation

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