USDJPY: Looks To Return To The 99.93 Level And Beyond

USDJPY: With the pair halting its corrective pullback at the 96.99 level and closing higher the past week, we expect an extension of that strength to occur in the days ahead. This development leaves USDJPY targeting the 99.93 level. This if seen will set the stage for more upside towards the 100.50 level followed by the 101.00 level. We may see a pullback from here but if broken, further upside could follow towards the 101.50 level and then the 102.00 level. Support comes in at the 96.99 level where a violation will target the 96.00 level and then the 96.50 level. All in all, USDJPY remains biased to the upside in the medium term.