Daily Technical Strategist on USDJPY

[FXTechstrategyTeam]

USDJPY: Loses Upside Momentum

USDJPY: With USDJPY struggling to hold on to its gains, corrective pullback threats could be building up. On the upside, resistance resides at the 118.97 level followed by the 119.50 level where a break will target the 120.50 level. Further out, resistance comes in at the 121.00 level where a violation will aim at the 121.50 level. On the downside, support comes in at the 117.50 level where a break will target the 117.00 level. Below here if seen will aim at the 116.00 level followed by the 115.50 and then the 115.00. On the whole, USDJPY remains exposed to the upside.