1/29/2021 1:11:52 AM GMT | By Ross J Burland
USD/JPY has rallied to print fresh highs on Asia as the dollar firms.
The daily perspective is somewhat more bearish as a 61.8% Fib aligns with structure.
USD/JPY is trading on the bid to score fresh highs within the recent breakout from the long-term downtrend.
At the time of writing, the pair is trading at 104.48 between a range of 104.17 and 104.49 up some 0.28%.
The dollar stabilising following a weaker performance on Thursday with risk appetite improving overnight.
Data showed that US jobless claims fell in the latest week, while dire Gross Domestic Product data met expectations contracting at its sharpest pace since World War Two in 2020.