USDJPY: Bullish, But Hesitates Ahead Of 114.20 Levels!
As long as 112.85 support holds on a weekly closing basis, the USDJPY remains on the upside to the 114.20 levels, a halt is likely, but a break would open 115.85 levels, further upside, resistance comes at the 117.65 levels.
On the downside, below 112.85 will open 111.65 (main), it should turn higher from here, but a cut through support will suggest a corrective pullback to the 109.75/108.95 levels before another rise!
Conclusion: The USDJP continues to face upside threats above the 111.65 levels in the medium-term forecast…
Support: 112.85, 111.65, 109.75
Resistance: 114.20, 115.85, 117.65