USDJPY supporting ours fundamental + technical long bias.
We are maintaining our bullish bias for USD/JPY conveyed here last month and have nudged the range one big figure higher to reflect the prospect of Fed short-term rates potentially moving further higher, giving further upside impetus to USD/JPY. There are other factors too that for now might be helping weaken the yen further although these should prove more temporary. The supply-constraint issues globally and the energy price surge hits Japan to a greater extent than many other countries and certainly trade negatively.