USDJPY (111.09): The USDJPY currency pair was seen trading bearish last week with Friday’s price action briefly extending down to 110.77 before pulling back. The rally to 111.90 marks a 61.8% retracement from 3rd October 2018 highs through 4th January lows. In the near term, USDJPY is likely to see a minor pullback. However, if the previous highs are not breached, USDJPY could be looking to post declines to test the 109.74 level of support that is pending a retest.
