USDJPY: With the pair seen building on its Tuesday rally, further bullish offensive is expected towards the 102.82 level. A cut through here will pave the away for a run at the 103.43 level, its Jan 29 2014 high. Above here will set the stage for a push further higher towards the 104.oo level. Further out, resistance comes in at the 104.50 level and then the 105.00 level, its psycho level. Its daily RSI is bullish and pointing higher supporting this view. Support comes in at the 102.00 level, its psycho level. Further down, support stands at the 101.50 level followed by the 100.00 level with a cut through here opening the door for a run at the 99.50 level. A loss of that level will turn attention to the 99.00 level, its big psycho level. On the whole, USDJPY remains exposed to the upside on further strength.
Article by www.fxtechstrategy.com
