Technical Forecast for USD/JPY

USDJPY held above support at 100.90/80 & broke this week’s high at 102.15 to hit our 102.42 target & the outlook remains strong so watch for a break higher to target 103.07. If we keep going we should struggle at 103.55 resistance this week & this could mark the high if seen. Do bear in mind however that we could reach as far as 105.50 in the coming weeks on this next leg higher.

 

Support at 102.15/05 then 101.35/25.