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USD/JPY Price Analysis: Bulls inches near six-year-old resistance at 121.70
The USD/JPY pair is facing overbought pressures above 121.00 and is likely to perform subdued in the Asian session. The major has witnessed a dream rally in the past few trading sessions, which is visible from the full-bodied giant positive ticks on the weekly chart consecutively for three weeks. The greenback bulls are inching closer to six-year-old resistance at 121.70 considering a broader weakness in the Japanese yen. On the weekly scale, USD/JPY has witnessed a juggernaut rally after a breakout out of the rising channel on the upside. The upper end of the rising channel is placed from 2 April 2021 high at 110.97 ... (full story)