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USDJPY Retains Its Broader Uptrend

USDJPY the pair may be hesitating but still retains its broader upside pressure. On the upside, resistance comes in at 109.00 level. Above this level will turn attention to the 109.50 level. Further out, we expect a possible move towards the 110.00 level on a break of that area, A cut through here will open the door for more gain towards the 110.50. Its daily RSI is bullish and pointing higher suggesting more strength. On the downside, support lies at the 108.00 level where a break will target the 107.50 level. Below that level will turn focus to the 107.00 level and then lower towards the 106.50 level. On the whole, USDJPY faces further upside pressure in the days ahead but with caution.

USDJPY Retains Its Broader Uptrend

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