USDJPY (109.87): The USDJPY currency pair managed to breakout from the resistance level after brief consolidation and pushed modestly higher on the day. The upside is now expected to see the USDJPY aiming for 110.62 level of resistance. However, there is a risk that the currency pair could slip below the support at 109.57 – 109.43. In this event, USDJPY could be seen pushing lower to 108.90 where a retest of support is still pending.
