Technical Analysis

USD/JPY pushes higher but faces some resistance (and apathy)

USD/JPY up 22 pips

USD/JPY is near the highs of the day as yields grind higher.

This is the kind of day where you don’t expect to see many breakouts because the calendar is so light.

I think the market is more-focused on the euro and ECB early in the week. On Thursday it will shift to the US with CPI data and on Friday we get retail sales in what’s going to be a huge number for the dollar because the Fed has repeatedly highlighted the importance of the consumer in setting policy.

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