- The USD / JPY peaks over several weeks beyond 108.00.
- The sale of JPY is accelerating on the broader theme of risk.
- The 200 day key SMA is located in region 108.30.
Renewed and moderate sales bias in the Japanese yen is now liftign USD / JPY to the area of new peaks of 2 months beyond 108.00 the figure.
USD / JPY up on risk appetite trends
The USD / JPY has surpassed the consolidation model in place since mid-May and is now flirting with the main 200 and 100 day SMAs in the region 108.30.
The widespread appetite for riskier assets continues to fuel the exodus from the Japanese refuge (and the dollar), adding additional legs to demand for euros like the British pound and the Australian dollar.
In addition, the uninterrupted reopening of global economies is collaborating with those best aware of the risk complex, in line with the alleviation of concerns surrounding the coronavirus.
USD / JPY levels to consider
At the time of writing, the pair was up 0.71% to 108.34 and a breakout of 108.46 (weekly / monthly high on June 2) would target 109.38 (April 6 high monthly) and and finally 111.71 (highest monthly of March 24). On the other hand, immediate controversy emerges at 107.07 (weekly low on May 29), supported by 106.35 (monthly low on April 25), then at 105.98 (monthly low on May 6) .