While USD/JPY still remains in an uptrend overall that should see a move to 110-111 by year end, at this stage it has tested resistance levels at 107.44-71 where the trend across the recent highs converges with the trendline down from 1998, notes CitiFX Technicals. "We should also note that the double bottom on USDJPY has a target of 107.46 i.e. within the range of resistance levels highlighted above," Citi adds. "Given how much we have already moved over the past week, a brief consolidation may be seen around these levels that extend to 107.71 before the next leg higher," Citi projects. Citi maintains a long ... (full story)