- USDJPY is trading near the top end of its multi-month consolidation
- Our broader bias is positive on the exchange rate
- A close over the 61.8% retracement of the April/May decline near 102.85 is needed as further confirmation that a more serious move higher is underway
Weekly USDJPY Strategy: Like the long side while over 101.50
| Instrument | Support 2 | Support 1 | Spot | Resistance 1 | Resistance 2 |
|---|---|---|---|---|---|
| USD/JPY | 101.50 | 102.35 | 102.60 | 102.85 | 103.35 |
