Having broken 50 DMA two days ago, USD/JPY extended its advance past Brexit day high (106.80) and the downtrendline, drawn off of January 2015 and May 2016 highs. The pair has traded to as high as 107.50 in the Asian session.

That looks like a logical place to take some profits ahead of the BOJ meeting next week, so some consolidation would not be that surprising. 100 DMA (108.30) is the first stronger resistance and 50 DMA (106.10) support.

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