USDJPY (110.33): The USDJPY currency pair managed to post a modest retracement back to 110.62 before easing back. The currency pair is likely to extend the declines with the support at 109.57 – 109.43 likely to be tested. Alternately, in the event of a reversal before reaching the support, the USDJPY currency pair could be seen rising back to the 110.62 level with the possibility to breakout higher. This could ensure further gains in store in the currency pair.
