USDJPY (110.65): The USDJPY currency pair managed to post strong gains with price action, seen currently testing the resistance level at 110.62. A breakout above this level is essential in order to post further gains. However, we expect to see the USDJPY maintaining its range within the resistance level and the lower support at 109.57 in the near term. An unlikely breakout above 110.62 could signal further gains that could push the currency pair to highs of 111.37 that was briefly tested previously.
