USDJPY (109.72): The USDJPY currency pair was seen trading at the support level of 109.57 – 109.43 level. With the support level holding up, we expect to see the currency pair pushing higher in the near term. However, failure to break out above the previous highs could signal weakness in the currency pair. To the upside, the resistance level at 110.62 remains the target, while to the downside, the support level at 108.90 is likely to be tested in the short term.
