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USD/JPY: Faces Pullback Risk

USDJPY: Although extending its strength on Monday, pullback threats cannot be ruled out. On the upside, resistance resides at the 114.50 level followed by the 115.00 level where a break will target the 115.50 level.

Further out, resistance comes in at the 116.00 level where a violation will aim at the 116.50 level. On the downside, support comes in at the 113.00 level where a break will target the 112.50 level.

Below here if seen will aim at the 112.00 level followed by the 111.50 and then the 111.00. On the whole, USDJPY remains exposed to the upside but faces correction pullback.


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