USDJPY Sees Rally With Eyes On Key Resistance Area

USD/JPY sees rally with eyes on key resistance area located at 11213. Further out, resistance comes in at 112.50 level. Above this level will shift focus to the 113.00 level with a cut through sending the pair towards the 113.50 level. A break through here will open the door for more gain towards the 114.00. Its daily RSI points higher suggesting further upside pressure. On the downside, support comes in at the 111.00 level where a break will target the 110.50 level. Below that level will turn focus to the 110.00 level and then lower towards the 109.50 level. On the whole, USD/JPY faces further upside pressure threats.

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