Fed's have finally raised rates after and as expected USDJPY moved higher. If we look at price action in last few weeks, the US dollar continued to recoup the losses suffered against the yen in the first half. It has now rallied for six consecutive weeks, and 10 of the last 12 (meaning that the dollar's move began before the election). Its current streak on the upside is longer than any streak on the downside since the US Dollar peaked in mid-2015.

The upside momentum is expected to continue and I am expecting test of resistance at 121.65. Whereas 116.19 should hold as support on any down retracement.

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