USD/JPY broke above the 119 mark and printed a 3-week high as the dollar strengthened on the back of remarkable strong US nonfarm payrolls figures.
USD/JPY rose more than 150 pips over the last hours and reached a high of 119.13, last seen Jan 12, before losing momentum. The pair retreated slightly from highs and it is currently trading at 119.02, recording a 1.28% gain on the day. The dollar is also on track to post a weekly gain versus the yen, having recovered from a 3-week low of 116.86 scored on Tuesday.
From a longer-term perspective, USD/JPY has spent the last weeks consolidating in a wide range between 117-119 after a broader rally propelled by divergent policies from Fed/BoJ stalled just ahead 122.00 in December and the subsequent correction found support around 115.40.
USD/JPY rose more than 150 pips over the last hours and reached a high of 119.13, last seen Jan 12, before losing momentum. The pair retreated slightly from highs and it is currently trading at 119.02, recording a 1.28% gain on the day. The dollar is also on track to post a weekly gain versus the yen, having recovered from a 3-week low of 116.86 scored on Tuesday.
From a longer-term perspective, USD/JPY has spent the last weeks consolidating in a wide range between 117-119 after a broader rally propelled by divergent policies from Fed/BoJ stalled just ahead 122.00 in December and the subsequent correction found support around 115.40.
