USDJPY: Bullish, Resumes Short Term Uptrend

USDJPY: With the pair following through higher the on Thursday, further upside pressure is likely. On the downside, support comes in at the 105.00 level where a break if seen will aim at the 104.50 level. A cut through here will turn focus to the 104.00 level and possibly lower towards the 103.50 level. On the upside, resistance resides at the 105.50 level. Further out, we envisage a possible move towards the 106.00 level. Further out, resistance resides at the 106.50 level with a turn above here aiming at the 107.00 level. Its daily RSI is bullish and pointing higher suggesting further weakness. On the whole, USDJPY looks to extend its short term uptrend.