USD/JPY seen testing 111.00 and above – Danske Bank

Chief Analyst at Danske Bank Jakob Christensen sees the pair attempting to test the upper end of the 108.00-111.40 range.

Key Quotes

“USD/JPY broke back above 110 yesterday supported by improved risk appetite and higher 10Y US yields”.

“The cross is currently flirting with the 200-day moving average of 110.19”.

“Technically, a break above this trend line could be a bullish signal and potentially pave the way for a test of the high end of the current 108-111.40 range”.