USDJPY declined on sell off during Monday trading session. It now eyes more weakness towards the 113.00/112.86 zone. On the downside, support lies at the 112.50 level where a break will aim at the 112.00 level. A cut through here will turn focus to the 111.50 level and lower towards the 111.00 level. Resistance comes in at 113.50 level. Above here opens the door for more strength towards the 114.00 level. Further out, we envisage a possible move towards the 114.50 level. Further out, resistance resides at the 115.00 level with a turn above here aiming at the 115.50 level. On the whole, USDJPY faces further downside pressure on sell off.

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This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report

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