USD/JPY continued its rise yesterday and during today’s Asian session, clearly breaking the 111.40 (S1) resistance level (now turned to support). We could see the pair remaining sensitive to safe have flows, as well as the US employment report later today. Should the bulls maintain control over the pair’s direction we could see it breaking the 112.00 (R1) resistance line. Should on the other hand the bears take over, we could see the pair breaking the 111.40 (S1) support line and aim for the 110.90 (S2) support barrier.