USDJPY (110.43): The USDJPY currency pair posted declines on the day following the breakout from the steeply rising wedge pattern. The close below 110.62 level suggests that in the near term, a minor retracement to the losses could see price retesting this level. As long as the price level of 110.62 holds, we can expect to see the downside prevail. USDJPY is likely to decline toward the lower support region of 109.57 – 109.43 level where support is pending a retest.
