Good day traders!
Looking at the usd/jpy on the weekly time frame, we see last resistance at 94.0 being broken and which also happens to be the 38.2% Fibonacci resistance.
Right now, the pair is seen aiming towards next resistance level at 97.76, after which a rise towards 100, the 50% fibonacci level would not be too far off.
Currently trading at 96.425, we are awaiting for the UK market to open here in Singapore, now at 1.42pm.
Chief Currency Strategist