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A big session for USDJPY

USD
  • Another massive session for USDJPY, up 2.95% in just the past 5 days.
  • Spiking US yields, tested just above 2.5% overnight, printed 2.553%, and the BOJ offering to buy unlimited amount of 10yr notes, intervening to cap Japanese yield, provided a 126 pips session overnight..
  • The pair is just off the high, albeit still up 0.88% for today.
  • Next immediate resistance is at 123.37 2.618 projection of the Dec 3 - Jan 4 - 24 price swing.
  • And a clear break above the latter, opens to 123.76 High Nov 18 2015 next
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