USD/JPY about to confirm first close above monthly kumo cloud since 2007!

FXstreet.com (Barcelona) – USD/JPY has been drifting to wins consistently all week, with only a minor setback suffered on Tuesday by retesting bids at 101.00 before an uptrend resumption to now face offers at 102.25/35 ahead of the weekend.

From an ichimoku perspective, the hourly chart is being supported by higher timeframes. It is worth noting that prices are just 1-day away from hitting yet another technical milestone, as unless a black swan event occurs, USD/JPY will see its first official close above the monthly kumo cloud, an occurrence not seen since 2007.

Technically speaking, the USD/JPY is currently finding a …read more