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The USD/JPY pair is trading at its highest since May last year, bullish in the short-term. Valeria Bednarik, Chief Analyst at FXStreet, shares the technical analysis for the cross. 

Key quotes

“The 4-hour chart shows that the pair rallies after finding support around a mild-bullish 20 SMA, while technical indicators maintain their upward momentum well into positive levels.”

“As long as it holds above 110.10, the risk will remain skewed to the upside, with the next relevant resistance level at 110.95.”