USDJPY: Consolidates With Upside Bias…
As long as 112.63 support holds on a weekly closing basis, the USDJPY remains neutral with risk to the upside. Resistance comes at 114.07, a break would open 114.80, a halt is likely, it may test 114.07 before attempts breaking above 114.80. Anyway; above 114.80 aims 115.75, further upside, resistance comes at 117.00 level.
Note: The pair may spike to 114.80 before ending the week below 114.07 level.
On the downside, a failure to hold above 114.07 level on a weekly closing basis could mean a return to 112.63 level, below that level, sees a pullback risk to 111.35 level, further down, support comes at 110.35 level.
Conclusion: The USDJP sees upside threats above 112.63 level with caution.
Support: 112.63, 111.35, 110.35, 109.50
Resistance: 114.07, 114.80, 115.75, 117.00