Yen dropped notably overnight and stays pressured in Asian session with markets back in risk-on mode. NASDAQ closed at new record high while DOW and S&P 500 also gained. Major Asian indexes follow with solid gains in Hong Kong. Dollar also extended this week’s retreat but losses are so far limited. Meanwhile, commodity currencies are extending recovery too.

Technically, USD/JPY’s breach of 110.81 resistance suggests resumption of the choppy rise from 107.47 towards 110.95 high. GBP/JPY’s break of 154.10 resistance suggests that correction from 156.05 has completed at 151.28 already. Similarly, EUR/JPY is heading back towards 132.63 resistance and break will align the outlook with GBP/JPY. Also, break of 83.95 resistance in AUD/JPY will also suggest completion of correction from 85.78.

source_https://www.actionforex.com/