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Forex Forum → Market Analysis → USDJPY: Bullish, Eyes Further Upside Pressure

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Topic: USDJPY: Bullish, Eyes Further Upside Pressure

USDJPY: The pair closed higher on Tuesday  following through higher on Wednesday. On the downside, support lies at the 113.00 level where a break if seen will aim at the 112.50 level. A cut through here will turn focus to the 112.00 level and possibly lower towards the 111.50 level. On the upside, resistance resides at the 113.50 level. Further out, we envisage a possible move towards the 114.00 level. Further out, resistance resides at the 114.50 level with a turn above here aiming at the 115.00 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the whole, USDJPY faces further upside threats.

http://www.fxtechstrategy.com/wp-content/uploads/2017/12/USDJPYDaily.png

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