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USDJPY Threatens Further Upside Pressure Medium Term

USDJPY: The pair retains its upside leaving risk of more strength on the cards. On the downside, support comes in at the 113.50 level where a break if seen will aim at the 113.00 level. A cut through here will turn focus to the 112.50 level and possibly lower towards the 112.00 level. On the upside, resistance resides at the 114.50 level. Further out, we envisage a possible move towards the 115.00 level. Further out, resistance resides at the 115.50 level with a turn above here aiming at the 116.00 level. Its daily RSI is bearish and pointing higher suggesting further upside pressure. On the whole, USDJPY faces upside threats.

USDJPY Threatens Further Upside Pressure

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