Obviously the up-trend is very strong yet I’m slightly surprised to see USD/JPY holding up so well heading into a G20 conference where Japanese tactics are likely to be questioned. It’s a lot of kettle-calling-pot-black especially if the criticism is coming from the US Treasury.
Nevertheless I’m expecting wide range trading for the rest of the week and I’m happy to sell any big rallies in GBP/JPY and AUD/JPY.