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    USD/JPY climbs to highs near 105.80

    The prevailing risk-on trade is now allowing USD/JPY to advance further and test daily peaks in the 105.80 area.USD/JPY eyes on US data, UK referendumSpot has advanced to 5-day peaks near the key barrier at 105.00 during the European afternoon, always bolstered by the swelling sentiment around the risk-associated space and hopes of a ‘Leave’ win at the UK Referendum.Data wise in Japan, Markit’s manufacturing PMI in Japan has come in below consensus, while Initial Claims, New Home Sales and advanced manufacturing PMI are due for release later in the US docket.USD/JPY levels to considerAs of writing the pair is advancing 1.23% at 105.69 facing the immediate hurdle at 106.94 (20-day sma) ahead of 107.92 (high Jun.7) and finally 108.26 (55-day sma). On the other hand, a breach of 103.53 (2016 low Jun.16) would aim for 101.49 (low Aug. 8 2014) and then 101.04 (low Jul.10 2014).


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