USDJPY (111.32): The USDJPY currency pair was weaker on Friday extending its three-day decline. Price action stalled near the support level at 111.13 – 110.85 region. This could potentially stall the declines in the near-term. However, if there is a break out from this level, the currency pair could be seen posting strong declines. Price action is currently signaling a descending triangle pattern being formed with the baseline support established at the 111.13 – 110.85 handle.
