USDJPY Set To Retarget Consolidation Range Top

USDJPY faces further price recovery higher towards its consolidation range top at 109.72 zone. On the upside, resistance comes in at 110.00 level.

Above this level will turn attention to the 110.50 level. Further out, we expect a possible move towards the 111.00 level. A cut through here will open the door for more gain towards the 111.50.

Its weekly RSI is bullish and pointing higher suggesting more strength. On the downside, support comes in at the 109.00 level where a break will target the 108.50 level. Below that level will turn focus to the 108.00 level and then lower towards the 107.50 level.

On the whole, USDJPY faces further recovery threats in the new week.


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