USDJPY faces significant resistances around 111.50-55, including a downward trend since early March. As the present feeling of risk is a little longer and helps the pair to close 111.55 a day, the chances of their 111.80 and 112.15/20 rallies are not to be denied. Furthermore, progress after 112.20 could target 112.60. The 111.00 and 110.65 downside could reduce immediate couple declines before 110.30 were emphasized and the upwards trend line at 109.90. On the downside. The pair may revisit 109.00 and 108.70 subsidies if the price decreases below 109.90.
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