USDJPY (113.31): The USDJPY stalled its two day winning streak with price action forming a doji pattern near the previous highs. This potentially suggests a decline in the near term on a bearish close. Support is formed at 113.00 – 112.90 level which could be tested in the near term. A breakdown below this level will indicate further declines with support at 112.00 coming into focus. USDJPY could however be seen posting further gains on a rebound off the 113.00 support.
