USDJPY rallies with eyes on key resistance at 111.01 level. On the upside, resistance comes in at 111.50 level. Above this level will turn attention to the 112.00 level. Further out, we expect a possible move towards the 112.50 level. A cut through here will open the door for more gain towards the 113.00. Its daily RSI is bullish and pointing higher suggesting further upside pressure. On the downside, support comes in at the 110.00 level where a break will target the 109.50 level. Below that level will turn focus to the 109.00 level and then lower towards the 108.50 level. On the whole, USDJPY faces further upside pressure.

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This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report


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