USDJPY (110.67): The USDJPY managed to retest the 110.80 resistance on Friday but pulled back slightly below from this level. The outside bar formed could suggest some upside in the near term. The 4-hour chart suggests a potential bottoming pattern currently taking shape. Resistance at 110.81 will need to be breachedin order for USDJPY to post further gains. The next main level of interest above 110.81 is at 111.77. To the downside, if USDJPY slips past 110.20, then expect to see further declines to 110.00 handle.
