Following its recovery above the daily cloud in October, USD/JPY embarked on a strong uptrend consistently throwing bullish signals along the way. The more recent close above the weekly cloud near 81.00 was yet another positive signal, despite US yields pushing lower at the time. Now, with US yields turning higher in range once again along with the recovery in the S&P 500, USD/JPY has caught a second wind. The risk is for further gains towards 82.70.
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Barclays Capital