USD/JPY has surged to the forefront after a months-long slumber today. The buck is getting a major boost from firmer yields, Though the are easing from their highs (10s at 3.80%). USD/JPY is well above its 200-day moving averag and may challenge trendline resistance at 98.27, drawn from 101.45 highs in early April. 97.20 is solid support on pullbacks. Patient traders will wait to get long for a pullback toward that area.
USD/JPY in unusual role: Leading Man
Source: www.forexlive.com
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