The USD/JPY has spiked due to excessive USD buying negating the yen strength during risk off as seen yesterday. The pair is at important POC zone (D H4, order block, 50.0, trend line) 110.50-55. However if momentum persists the pair could spike further to the upside towards 110.70-85 POC2 (61.8, W H3, historical sellers). Watch for possible rejection within the POC zones although I personally favour the POC2 rejection due to possible Friday profit taking. The pair should drop to 109.65 if rejected.
