FXStreet (San Francisco) - The USD/JPY continues to trade at 1-week highs around 101.80 after a somehow bullish European session that drove the pair from 101.60 to current levels.
However, the volatility is not the best friend now and the pair remains to price at the same pre-data levels. Currently, USD/JPY is trading at 101.76, up 0.08% on the day, having posted a daily high at 101.81 and low at 101.63.
USD/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
Matt Bacon-Hall from FXBeat comments: "Not a lot to go by really, with stronger equities no doubt helping the bid tone. Order wise, we see offers 101.80-90, with bids below 101.45-55."