USDJPY (110.28): The USDJPY currency pair posted strong gains following the brief decline to the support level at 109.57 – 109.43 level. The current rally is expected to push the currency pair to highs close to 110.62 resistance level. A retest of resistance at this level could signal a possible decline back to 109.57 – 109.43 region. However, in case of a breakout above 110.62, then further gains could be expected that could push the currency pair to test the 111.00 level testing the previous highs from May 2018.
