USDJPY (113.22): The USDJPY continues to trade flat with yesterday’s session closing with a doji pattern once again. Price initially opened lower but the U.S. dollar quickly recovered to the fill gap but only to close flat on the day. Yesterday’s doji marks a third consecutive day of trading flat. On the 4-hour chart time frame, USDJPY is likely to find support near the 113.00 level. Establishing support at this level could potentially indicate further upside in price. However, USDJPY will need to breakout above the previous highs posted near 113.60 in order to post further gains.
