USDJPY (111.25): The USDJPY currency pair extended gains for the second day. Price action managed to close back above the support/resistance level area of 111.13 – 110.85. The close above this level is likely to see further gains. In the near term, a retest of this level could keep the bias to the upside. Price action is likely to test the next resistance level at 112.00 region which marks the highs from early August.
