• A bout of position cleansing as USD/JPY tags 145

• Firmer US equities and UST yields aid short squeeze in USD/JPY

• Trump admin to rescind global AI chip export curbs

• UK-US trade deal announcement also helping sentiment

• Though, whether current levels hold will be key

• Recall that US-China trade talk announcement saw a lacklustre reaction

• Rally sellers in USD/JPY likely to persist into 146

• Resistance = 145.73/90 and 146.55/70 (55DMA)
USDJPY daily chart

(Justin McQueen is a Reuters market analyst. The views expressed are his own.)