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USD/JPY edges closer to 146

The Yen has continued to lose ground so far today and that comes in the absence of the US treasury markets. So, there is no yield movement there to guide. However, so far that does not seemed to have mattered much. The Yen is the weakest amongst the major currencies now today and that has seen the USD/JPY grind its way closer to the 146.00 right now. The high seen a moment ago was set at 145.91, which is more than 100 pips above where the dollar closed on Friday. There might be resistance in place at 146 and also at 146.01, which is where the 50 day moving average is in place right now. The USD/JPY has actually just backed off a little and it is currently trading at 145.83
 

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