USDJPY (109.60): The USDJPY posted strong gains on Friday but price action was seen easing back towards the close. The USDJPY managed to post the rally and hit the resistance zone of 109.57 – 109.43 level. We expect to see the USDJPY currency pair pulling back lower and could settle into the range with the lower support at 108.90. However, in the event of a breakout, then USDJPY could be seen extending the gains to the upside, targeting the next main resistance level at 110.85.
