USDJPY: With USDJPY maintaining its bullish offensive following its Monday strength, further upside pressure is likely in the days ahead.
It looks to retarget the 124.24 level. On the upside, resistance resides at the 125.00 level with a turn above here aiming at the 125.50 level. A break will target the 126.00 level. Further out, resistance comes in at the 126.50 level.
On the downside, support comes in at the 123.00 level where a break will target the 122.47 level. Below here if seen will aim at the 122.00 level followed by the 121.50 level. On the whole, USDJPY remains exposed to the upside medium term.
In our latest podcast we digest the dollar dove dive, update on Greece and preview next week’s events.
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