USD/JPY late losses a mirage, testing offers 101.65/70

FXstreet.com (Barcelona) - USD/JPY is picking up bullish momentum into the NY close, and following a brief drive through 101.40 session low, the pair is back up, testing offers circa 101.65/70 as the S&P 500 gets a lift off 1,800 round number.

USD/JPY has further upside potential

Technically speaking, the USD/JPY managed to burst through a key option barrier at 101.50 last Asian session, allowing the pair further maneuverability until the next critical resistance layer, one not seen until 102.50, late May highs.

USD/JPY bullish while above 101.00

In view of Valeria Bednarik, Chief Analyst at FXstreet.com: "As long as above 101.00 the upside continues to be favored."