The USDJPY maintained a bullish momentum yesterday, bottomed at the 101.75 levels and topped at the 102.73 levels. this development leaves the pair targeting the 103.30 levels, a halt is strongly suggested, but a breach will turn the focus on the 104.00 levels, further out will aim the 104.80 levels.
On the downside, support comes at the 101.73 levels, losing this level on a daily closing basis will weaken the current bullish run and open the 101.37, a cut will bring decline to the 100.75 levels.
In all, as long as 101.75 holds on a daily closing basis the USDJPY will remain biased to the upside in short-term view with risk towards the 103.30 ahead of 104.00 levels. losing the 101.75 levels will reverse risks towards the 101.37/100.75 levels.