USDJPY (110.84): The USDJPY currency pair broke past the resistance level of 110.62 quite comfortably. In the near term, any declines are likely to hold out at 110.62 which could now serve as support. The sharp parabolic gains however come at a risk of a downside breakout. A close below 110.62 could signal a move lower toward the support at 109.57 – 109.43 region.
