USDJPY: Bullish, Risk Builds Up On 115.20 Level…
As long a 112.95 support holds on a weekly closing basis, the USDJPY remains on the upside to 115.20. A halt is likely, it may test 114.08 before attempts top break higher. Anyway; above115.20 aims 116.75, further upside, resistance comes at 118.40 level.
On the downside, a failure to hold above 114.08 on a weekly closing basis could mean a return to 112.95 level. It should turn higher from here, but a cut below support opens 111.65, further down, support comes at 110.35 level ahead of 109.25 level.
Conclusion: The USDJPY see upside threats above 112.95 level in the medium-term forecast.
Support: 112.95, 111.65, 110.35, 109.25
Resistance: 114.08, 115.20, 116.75, 118.40