USD/JPY — Value Higher As Sell-Side Trapped

The Japanese Yen trades on the back foot amid the reinvigoration of the risk trade. The bullish reversal bar with Thursday PoC left behind the bullish close is a positive development. The upward slope in both the 5-day MA as well as the rise in the DXY + US yields is yet further factors that are supporting, for the time being, the bullish dynamics in a market that appears now destined towards more ambitious targets towards the 109.80–110.00 macro resistance.