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USDJPY: Bullish, Sets Up To Extend Recovery

USDJPY: The pair faces further upside price pressure leaving risk higher in the days ahead. This is coming on the back of its strong recovery rally on Wednesday. On the downside, support comes in at the 114.00 level where a break if seen will aim at the 113.50 level. A cut through here will turn focus to the 113.00 level and possibly lower towards the 112.50 level. On the upside, resistance resides at the 115.00 level. Further out, we envisage a possible move towards the 115.50 level. Further out, resistance resides at the 116.00 level with a turn above here aiming at the 116.50 level. On the whole, USDJPY looks to extend its upside pressure.

USDJPY: Bullish, Sets Up To Extend Recovery

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