• USDJPY higher eyeing 155.29 possibly 156.36
  • EURJPY testing key resistance at 165.35.
  • AUDJPY testing key resistance at 100.02.
  • GBPJPY range bound 192.85 -190.00

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USDJPY is slowly ticking higher towards the 2.00 projection of the March correction at 155.29, as illustrated by the two vertical arrows.

However, a bullish move up to 156.36, which is the 1.382 projection of the November-December correction, should not be ruled out.

The RSI is showing positive sentiment but with minor divergence, indicating the USDJPY uptrend is getting close to exhaustion.

A close below 152 will negate the bullish scenario. A break below 153.50 and a close below the lower rising trendline is likely to be the first warning of a bearish correction scenario to play out

Source all charts and data: Saxo Group

EURJPY is testing key resistance at around 165.35.
A daily close above, combined with a daily close on the RSI above the 60 threshold, is likely to result in a bullish move to 166-168.

If RSI is closing above both the 60 threshold and above its falling trendline, it will strengthen the bullish picture.

Failing to close above 165.35, EURJPY is stuck range-bound between 165.35-162.30.

AUDJPY is testing key resistance at 100.02. A close above is needed for further upside potential. If that scenario plays out, a bullish move to 100.81 is likely, with upside potential to 101.97.

No RSI divergence is supporting a bullish move in EURJPY, and a daily close back above 60 will confirm that picture.

GBPJPY is stuck range-bound between 192.85 and 190. A breakout is needed for direction.

There have been multiple attempts for a bullish breakout, but they have all failed.

A break above 192.85 is likely to also take out the previous peak at 193.51 and push GBPJPY higher towards 194.85-195.84.