USDJPY: Rallies, Resumes Broader Upside Pressure

USDJPY: Rallies, Resumes Broader Upside Pressure.Thursday, November 15, 2012 4:35 AMUSDJPY: With a second day of upside offensive seeing the pair breaking and holding above the 80.65 level to resume its medium term uptrend, further strength is envisaged. The 81.00 level is now being targeted with a violation of here opening the door for a run at the 81.77 level and possibly higher towards the 82.00 level. Alternatively, a failure of the 79.21/09 levels to hold could trigger further declines towards the 78.00 level. Further down, support lies at the 77.13/00 levels. All in all, USDJPY still faces corrective threats.