USD/JPY short-term stalls but remains bullish
USD/JPY’s rapid advance has briefly taken the cross above its ¥151.73 October peak to ¥151.86 before giving back some of its recent gains towards the end of last week.
While last Thursday’s ¥150.27 low underpins, immediate upside pressure will be maintained, though. While this is the case, the ¥151.91-94 late October and November peaks will remain in sight.
Minor support above ¥150.27 sits in the ¥150.88-83 region.
