The pair continues to extend its recovery leaving it targeting more upside in the days ahead. As long as it holds above the 96.18 level, the risk still remains higher.
This leaves the threat of a return to the 99.00 level and the 100.60 level on the cards. A violation of here will aim at the 101.52 level.
Further out, resistance resides at the 102.00 level. Its daily RSI is bullish and pointing higher suggesting further upside.
Conversely, support comes in at the 97.00 level followed by the 96.06 level. Below here if seen will aim at the 95.00 level where a violation will aim at the 94.50 level.
On the whole, USDJPY is exposed to the upside.
Guest post by FX Tech Strategy
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