USDJPY price reversal leaves risk towards the 112.88 resistance. On the downside, support comes at the 112.00 level where a break will target the 111.50 level. A break through here will turn focus to the 111.00 level and then lower towards the 110.50 level. On the upside, resistance comes in at 112.50 level. Above here will open the door for more strength towards the 113.00 level. Further out, we expect a possible move towards the 113.50 level on a break of the former level. Further out, resistance resides at the 114.00 level with a turn above here targeting the 114.50 level. On the whole, USDJPY faces further upside pressure following its price reversal.
