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USD/JPY rises above 151.50 as Japan takes a break
The Japanese markets are closed today for a public holiday (Vernal Equinox Day). That does not mean that the Bank of Japan cannot be active, if they choose to be so. However, the FX markets and the dollar have taken that as a green light to force the USD/JPY to fresh 2024 highs above 151.00 today. The USD/JPY closed in the US last night at 150.86. It has risen to a high so far at 151.58 and there was clearly fresh buying when it took out the previous 2024 high at 150.89. The further rise in the dollar has taken all the major Yen crosses higher too, but more on those in updates to follow. The price action today clearly means that major intra-year double top is at risk of being busted today. To remind the reader that is at 151.91 and 151.95. The USD/JPY is currently trading at 151.49
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