USD/JPY rallies hard towards 112.80

Currently, USD/JPY is trading at 112.72, up 0.57% on the day, having posted a daily high at 112.79 and low at 111.92.

Fed's Kaplan: Sooner rather than later means in the "near future"

Yields and the US dollar is bid into the final stages of the US session and USD/JPY has taken off. USD/JPY rallied on Trump earlier, has been supported by Fed speak and bulls have reemerged with the Yen taking a big hit across the board. EUR/JPY is through key technical levels and onto the 119 handle and has reversed the 119.49 sell-off. USD/JPY still have some work to do to cover the same ground to 112.90. 

Yen comes with mixed sentiment fundamentally - Scotiabank

USD/JPY levels

Only below 111.59 would introduce scope to Fibonacci support at 109.92 and, if seen, the 200-day ma at 107.69, explained analysts at Commerzbank, adding, " We look for this to hold (this is also the 50% retracement of the move up from November). However this is not our favoured view - we also note that the recent move lower continues to indicate that this is the end of the corrective move." There are no real significant support levels ahead of the 200-day MA at 107.69 and to the upside, 114.94 is the Feb high.

Bullish on the greenback - Scotiabank