Forex Flash: USD/JPY still looks quite bullish – TD Securities

FXstreet.com (Córdoba) - The recent move in US treasuries and in turn US-Japan yield spreads has been supportive of the rise in USDJPY, although current 2-year spreads are still within the range of the past 6 months, when USDJPY was below 80, according to the TD Securities team.

"We would need to see a decent extension of this move in the rates market in order for it to corroborate the move in spot FX", they comment. "From a technical perspective though, USDJPY still looks quite bullish on short and long term charts including strong trend momentum and little in the way of resistance points nearby".