ING discusses USD/JPY technical outlook and adopts a bullish bias on a multi-days basis, highlighting the significance of a close above the EMA-200 at 110.96 to pave the way for further gains towards 111.70-112.70.

"A close above the EMA-200 line suggests an immediate continuation of the uptrend with next strong resistance coming in between the horizontal line around 111.70 and the long-term falling trend line around 112.70," NAB adds.