According to Australia & New Zealand Banking Group, the key market driver for the market of USDJPY is the difference between US and Japanese bond yields. They say improvements in the US economy increase the pressure on the Japanese currency.
According to Masafumi Yamamoto, a currency strategist at Barclays, expects USDJPY to continue rallying up to 85.00 over the next 3 months.
According to , the Japanese Yen is currently strengthening against the US Dollar. The experts report that USDJPY is forming a big-scale upswing represented by wave В(С) of level Daily.
A further rally will probably encounter resistance around 79.95 and 80.08. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 78.58 (as shown below).
