USD/JPY: through 102 on Fed rate hike expectations - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that after trading in a tight range ever since the day started, the USD/JPY pair jumped to fresh daily highs near 102.00 in the American afternoon, as Wall Street jumped to near its recent record highs, also underpinned by FED's Williams, who said that it is still appropriate to raise rates this year.

Key Quotes:

"The pair however, remains a handful of pips below its weekly opening, having been confined to a tight 120 pips range ever since the day started. In the short term, the 1 hour chart shows that the price has accelerated through its 100 and 200 SMAs, whilst the technical indicators head sharply higher nearing overbought territory."