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USD/JPY has a look above 159
Just now the USD/JPY poked its nose above the 159 handle. That means it just edged above the 100 day moving average. Earlier this morning we noted the next technical level was sat just above 159, at 159.04 and guess what?
Yes, you got it, the high so far has been set at 159.04. The move higher in the USD/JPY comes as Oil prices rise further and Bent crude has traded as high as $103.52 so far. We need to remember that in the micro trading sense, higher oil prices are essentially Yen negative, in as much as they are for the DAX, which has incidentally now fallen below the 26,500 handle. The USD/JPY has just stepped back a bit, but it might not be done with the topside yet today. It is right now at 158.94
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