USDJPY: The pair saw a rally on Tuesday opening the door for more strength in the days ahead. On the downside, support comes in at the 102.00 level where a break if seen will aim at the 101.50 level. A cut through here will turn focus to the 101.00 level and possibly lower towards the 100.50 level. On the upside, resistance resides at the 103.50 level. Further out, we envisage a possible move towards the 104.00 level. Further out, resistance resides at the 104.50 level with a turn above here aiming at the 105.00 level. On the whole, USDJPY looks to strengthen further.
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