Forex: Solid bull trend in USD/JPY; Sell orders circa 83.00/20 - FXWW

FXstreet.com (Barcelona) - The march higher in USDJPY shows no signs of losing its bullish momentum, with the Japanese Yen still in a heavy offered tone in every shallow bounce. The pair reached its highest band since April 4 in the last US session at 82.81 after another 3 digits 100+ pips gain last week, rising from 81.23 to close at 82.37.

According to FXWW Fonder Sean Lee, "USDJPY remains trading impressively from a bullish perspective, making solid gains and then consolidating in tight ranges; this is usually the sign of a solid trend. Sell orders are reportedly solid between 83.00/20 and I'm sure there will be plentiful support near prior highs at 81.50. Barring something very unexpected, this range should hold steady for the week." The analyst adds that "short term moves are totally at the mercy of intraday flows."