USDJPY: Bull Pressure Unharmed.
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USDJPY: The pair remains biased to the upside despite its price hesitation on Monday. Resistance resides at the 101.50 level with violation of here creating scope for a run at the 102.00 level. Further out, resistance comes in at the 102.51 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support is located at the 100.00 level where a breach will turn focus to the 99.27 level. A reversal of roles as support is likely to occur here and turn the pair higher. However, if this level fails to hold, further decline will develop towards the 98.00 level and then the 97.00 level. On the whole, USDJPY remains on the offensive.