USDJPY (113.76): The USDJPY gapped higher on today’s open and price action looks to have cleared the resistance level at 113.00. Any near-term declines could be seen holding near this resistance level which could be tested for support. With price briefly testing the 114.00 level, USDJPY could be seen consolidating above the support level of 113.00. Failure to establish support at 113.00 could signal some weakness in the currency pair that could see price once again turning flat near this level.
