Direct answer
USD/JPY is usually up today when buyers see improving odds across us yields or bank of japan policy. The move is healthier when gains hold after the first impulse.
Most likely bullish catalysts
Improving us yields
Improving improving us yields can support a stronger bid in USD/JPY.
Constructive bank of japan policy
Improving constructive bank of japan policy can support a stronger bid in USD/JPY.
Cleaner follow-through in price action
Improving cleaner follow-through in price action can support a stronger bid in USD/JPY.
What confirms the rally
- Confirm the move is supported by us yields rather than a thin short squeeze.
- Check whether leadership across related forex markets is also improving.
- Only trust continuation if the chart holds gains after the first impulsive push.