FX.co ★ USD/JPY

Of course, nothing has been changing for us on the USDJPY pair for a long time now, because the confident uptrend continues. This week once again we slightly renewed the local highs. But still, we failed to consolidate above 161.90, and for now it still looks like a false breakout. Although it’s not really worth focusing on that either, because afterwards the pair tried to move up again and pushed to the upside. However, I still don’t see any clear upside targets here, while a serious pullback has been long overdue. The yen is still very weak, but a lot also depends on demand for the dollar. Overall, I still don’t consider any buys. But I assume we can again climb above 161.90 and even 162. Though even there I’ll be looking for selling opportunities.