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Forex pairs in this Article » USD/JPY (Bali) - USD/JPY has maintained its bid tone along a holiday-thinned US session, carving out an intraday base above 104.60 to currently flirt with recent highs above 104.80.

USD/JPY to visit 105.00?

Going into the Tokyo open on Friday, the outlook for the USD/JPY to visit higher ground - potential test of 105.00 - remains positive, yet initial level protection - major option barrier/stops above - paired with anticipated weak flows may result in such mission to prove challenging.

Nikkei 225 buoys Yen crosses

The latest bull leg in USD/JPY was courtesy of a clean breakout of 16,000 mark in the Nikkei 225, following Japanese importer demand into Thursday's Tokyo fix, combined with US funds buying and strong activity by Japanese retail traders.
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