Red AT lines dominating, indicating up momentum and an upside risk.
So, what is holding USDJPY back?
Answer: The threat of BoJ intervention with the recently set a 40-year high at 162.84.
The outlet for JPY selling has come via its crosses, such as AUDJPY and NZDJPY (GBPJPY last week as well).
In any case, USDJPY maintains a bid as long as it trades above 162, currently a stronger bid while above 162.43
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