Relentless is probably the best word to describe USD/JPY and with Yen Bears now salivating at the prospect of a dovish BOJ Governor, there seems to be no point whatsoever in trying to pick a top in USD/JPY.
Previous highs at 93.15 are the first obvious support level and the technical target is a pair of weekly highs at 94.90. I’m a non-believer in this current Yen sell-off, but I’ve been around long enough to recognise momentum when I see it. I will bide my time and keep my powder dry 🙂