USD/JPY: the pair could still climb on the forex (Commerzbank)

Commerzbank believes that the USD/JPY has the potential to rise to 113.27 in the short term.

"The USD/JPY has broken the recent highs at 111.39/58 and the downtrend line of 2015-2018, and this has paved the way for the 200-week moving average of 113.27. Our long-term target is the 2015 peak at 125.86.

The declines should hold at 111.80/111.40 and the pair remains bullish above the 55-day moving average at 110.56."