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USD/JPY lifts steadily above 150 as EUR/JPY reaches new 15 year high
Since basing out yesterday at 149.25, it has been a one-way street higher for the USD/JPY. As noted here, it did meet with some resistance around 150, which was to be expected. However, eventually, the dollar got above 150 by the time of the US close last night, ending that session at 150.07. The range seen so far today has been covered by 149.94 to 150.40. The high has just been set, as I write this update. The move higher comes as the dollar more generally makes a comeback. The 50 day moving average in the USD/JPY is still rising and has continued to guard the downside. That is in place this morning at 148.80. The move higher in the dollar has also helped to keep the major Yen crosses elevated, even as the EUR/USD and GBP/USD fall back. The EUR/JPY has now reached a new 15 year high above 161. The USD/JPY is just now trading at 150.39
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