USD/JPY looks to consolidate its bullish break ahead of the weekend

The rally in US yields yesterday helped support the dollar and the pair, with a follow-on move seen so far in Asian trading.

Remember that liquidity conditions are thinner today with Australia and New Zealand (and later most of Europe) out due to the Easter holiday. Either way, the technical data is probably telling the story when it comes to USD/JPY right now.

The pair looks set for a break up as it holds above 125.00 and is now trading 20-year highs with buyers also looking to hold above the 2015 high at 125.86 .

If the break holds until the weekly close, this could very well set the stage for the next step towards 130.00 potentially.


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