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USD/JPY demand has been notable over the past couple of days. PM Abe losing Tokyo election on Sunday night and North Korea leader Kim Jong-un playing with ballistic missiles on Monday and Tuesday nights provided but buyable dips.
The pair broke above 2017 trendline and so far traded up to 113.50. May high (114.40) is the next target. 115 - 116 area is likely to prove again to be a more formidable barrier. Initial support is seen near 112.75 and then at 112 pivot.
The pair broke above 2017 trendline and so far traded up to 113.50. May high (114.40) is the next target. 115 - 116 area is likely to prove again to be a more formidable barrier. Initial support is seen near 112.75 and then at 112 pivot.