USD/JPY chart - Trading View
USD/JPY was trading 0.07% higher on the day at 104.99 at around 05:45 GMT, outlook remains bullish.
Greenback continues to gather strength despite the upbeat market mood. Broad-based USD strength fueled USD/JPY's climb.
Data published on Monday by the ISM and the IHS Markit both showed that the economic activity in the US manufacturing sector continued to expand at a strong pace in January.
The pair has bounced off intraday low, resumes upside to test 105 handle, scope for further upside.
Technical indicators are bullishly aligned. The pair is extending gains for the 5th straight session.
Momentum indicators are bullish, volatility is high and rising as evidenced by widening Bollinger bands.
Analysis of GMMA indicator shows minor trend is strongly bullish, while major trend is turning bullish.
Price action is extending break above 110-EMA and is on track to test 200-DMA at 105.61. Any further gains only on break above.
