USD/JPY has made yet another high reaching the 104.00 mark, however it was a very brief round trip, with price retracing back towards 103.90 amid improved sentiment in the Nikkei 225, up +0.9% in Tokyo morning trade.

Commenting on the pair, "Risk has turned to the upside in the pair, albeit the hourly chart shows indicators heading lower around their midlines diverging from price action. But the overall stance is bullish for the pair, with a break above the 104.00 figure now required to confirm more advances for today."

GBP/JPY is in the midst of breaking a descending trendline coming from Jan 2 high circa 173.00, with the latest rise driven by BoE headlines, it is not ruling out rate hikes ahead of general election.
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