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.