The USDJPY maintained a bullish momentum yesterday , printed support at the 102.51 levels. This development leaves the pair targeting the 103.45 levels , a halt is likely , but break of the 103.45 levels would open 104.12 next , further upside will aim the 104.80 levels.
On the downside ,support comes at the 102.71 levels ahead of the 102.51 levels (main) , losing the 102.51 levels on a daily closing basis will reverse risks towards the 102.13/101.50 levels before the next possible rise..
In all , as long as 102.51 holds on a daily closing basis , outlook in USDJPY remains on the upside towards the 103.45/104.12 levels , below 102.51 will reverse risks towards the 102.13/101.50 levels….
Note that break of the 102.92 on a daily closing basis , will make 102.92 serve as strong support………