USDJPY (108.79): The USDJPY slipped past 109.15 support earlier today. The declines came on the news report of the North Korea’s missile launch. The price fell to lows of 108.32 before pulling back. The breakdown below 109.15 could, however, suggest further declines in USDJPY. A retest of 109.15 as resistance could confirm this move as the next support near 108.00 could be inevitably tested. However, the fact that USDJPY has been strongly consolidating near 109.15 – 108.20 levels could suggest a near-term bottoming pattern being formed.
