USDJPY made some decent moves higher during the Asian session following on from Yellen’s comments last Friday and talk locally of a possible delay in a Sales Tax Increase. Retail Sales came out slightly better but still in negative.
With Options expiry on Yen scheduled for 10.00am NY time opportunities may exist to get long again on a retrace around 111.00 the figure (former resistance now support). A buy stop higher up around 112.00 just above the previous swing high may also offer an opportunity to catch on to an impending momentum wave.
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