USDJPY’s bullish movement from 107.31 extended to as high as 111.66. Further rise is still possible in a couple of days and next target would be at 112.50 area. Near term support is at the ascending trend line on the 4-hour chart. A breakdown below the trend line support would indicate that correction for the uptrend is underway, then the pair would find support at 109.54, followed by 108.55.
