Fresh high at 120.11.

Better risk sentiment continues to bolster USD/JPY as it climbs to 120.11, up 98-pips on the day. Last week's high was 120.17. There is talk of hedge fund demand.

The 21-day moving average is at 120.37 followed by offers at 120.50. There is talk of stops above 120.80. With London trading winding down for the day, be careful of a retracement in the hour ahead.