During a bout of risk-off yesterday, USD/JPY fell on news that Spain's cabinet will suspend Catalan autonomy on Saturday, but there was no follow through. The pair recouped all losses and surged to a new weekly high overnight as U.S. senate approved budget plan that moves them closer to tax reform.
The pair is currently trading just above 113. The initial resistance is at 113.40 where the declining 2017 trendline coincides with last week's high. If that gives way, 114 will come into focus. 112.7…
The pair is currently trading just above 113. The initial resistance is at 113.40 where the declining 2017 trendline coincides with last week's high. If that gives way, 114 will come into focus. 112.7…