Update Time: 27 May 2015 08:08 GMT
USD/JPY - 123.01
Dollar's rally to a fresh near 8-year peak at 123.33 on Tuesday signals long-term uptrend from 2011 record low at 75.32 has resumed and further gain to 124.14 (2007 top) is envisaged after consolidation
However, loss of momentum should prevent sharp move beyond there and yield retreat later.
On the downside, only a daily close below 122.03 (previous 2015 peak in March, now support) would indicate a temporary top is made instead and shift risk to downside for a retracement to 121.45 (Monday's low).
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