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Forex pairs in this Article » USD/JPY (Bali) - The Nikkei 225 futures penetrated a critical upside hurdle, successfully closing above both its kijun and tenkan on a daily basis, allowing the potential for more upside on Thursday.

Nikkei 225 strength persists

While the underlying bias is clearly to the upside, the recent dip at the start of the year put into question the viability for sustained gains during January, however, the latest recovery above the 2 key ichimoku indicators, along with the break of a descending trendline coming from its trend highs sees now 16,000 exposed.

Yen crosses to benefit?

The technical break in the Nikkei 225 futures market bodes well for the Yen crosses, which should see the strength in the index as a positive factor underpinning the bid tone, which has been quite consistent ( in case of the USD/JPY) ever since briefly dipping sub-103.00.

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