Dollar/Yen Technical Trend Higher

Fiscal stimulus combined with accelerated vaccine distribution in the US has triggered a bull run, which in turn helped US Treasury yields outpace Japanese Government bond yields allowing the to test the June 5 top at ¥109.80 twice on Friday although failing to break it.

Technically though, the main trend is still up, and therefore a sustained move over the ¥109.80 level will trigger an acceleration to the upside with the ¥111 mark as our medium to long-term upside target.

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