USDJPY (110.65): The US dollar continues to struggle to break out above 110.80 resistance level. Price action has once again failed to make any inroads above this resistance level. In the near term, any reversals could be limited within the inside bar range that was formed on Friday. The breakout from Friday’s high or low of 111.05 an 110.67 will signal further direction in the near term. To the upside, 111.77 will be the next target where resistance sits, while to the downside, below 110.67 low, the support at 109.58 will be tested for support.
