USDJPY: Although maintaining its broader uptrend, USDJPY faces corrective pullback threats. Resistance resides at the 104.00 level where a break will target the 104.50 level.
Further out, resistance comes in at the 105.00 level where a violation will aim at the 105.50 level and possibly higher towards the 106.00 level. On the downside, support comes in at the 103.08 level where a break if seen will aim at the 102.50 level.
A break if it occurs will aim at the 102.00 followed by the 101.50. On the whole, USDJPY remains exposed to the upside short term but faces corrective pullback risk.
