FXStreet reports that analysts at Credit Suisse report note that USD/JPY has again held key price support at 109.12/11 for the completion of a bullish “reversal day” to reassert an upward bias.

“Above 110.04/17 is needed to see the near-term downtrend break as well as the 55-day average cleared, with resistance then seen next at 110.45, then 110.81.”  

“Above the 110.81 level remains needed to clear the way for a test on long-term resistance, starting at 111.66 and stretching up to 112.40.” 

“Support is seen at 109.53 initially, then 109.41.”