The USDJPY pair continued its march higher on Friday and was seen 0.2% stronger, trading at around 106.40, which are levels last seen in early September.

Bulls need to push the pair above the 106.50 resistance, where today’s highs are seen. If that level is taken out to the upside, a further rally toward 107 could occur. 

The greenback is starting to accelerate broadly as soaring US yields spurred demand for the USD.

Supports might be at the 106 level and afterward at around today’s lows near 105.85.

Volatility is increasing as rising yields could pop the Nasdaq bubble, potentially leading to a very volatile environment. 



About Author

Peter Bukov

Peter comes from a background in corporate finance which began in 2013 when he completed the Corporate Finance Program at the University of Economics in Bratislava. He’s been actively involved in the market sector since 2008 and got his hands-on experience in trading in 2011. His experience in finance and trading continues not only as a market analyst at Axiory Intelligence but also through his studies to obtain a degree in Capital Markets. The study is in line with MIFID II regulations and is under the supervision of the European Regulator ESMA, which strongly emphasizes ethics and morale in investing and working with a client.

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