Yen-weakness remains in-play and USD/JPY has already pushed into some contentious area. The pair is making a fast run towards the 160.00 handle which is what the Bank of Japan had defended in late-April. As of this writing, the pair is a little more than 100 pips away from the big figure but given the fact that 158.50 hadn’t been in-play until bulls attempted to push the break in late-April, there’s been a relative dearth of price action in this vicinity in the 34 years since USD/JPY last traded this high. There was a pullback last week, albeit brief, but price held trendline support before bouncing the day after. ... (full story)