USD/JPY creeping higher – TDS

FXStreet (Barcelona) - Shaun Osborne, Chief FX Strategist at TD Securities, comments that the EUR price action has shifted the attention away from the USD/JPY pair, further expecting a close above 120.50 to lead to short-term gains towards 122 for the pair.

Key Quotes

“Technically, we think the USDJPYU rally has a lot of traction but option expiries clustered today around 120/120.50 may keep the USD contained for now unless the NFP report delivers USD-supportive news.”

“A daily close above 120.50 should encourage short-term gains towards major resistance at 122.”