The rally comes as US Treasury yields -- especially at the long end -- ratchet to the highs of the day. Some of the positive sentiment also extends from stock markets and the overall risk trade, which is undeterred by the war in the Middle East.
Zooming out, today's move is mostly insignificant as the pair consolidating within the range of the past three weeks. There is something brewing though with a series of higher lows and lower highs, creating a wedge that could dramatically break out.
I would guess this won't take long to break out.
This article was written by Adam Button at www.forexlive.com. Read More Details
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