USDJPY (110.63): The USDJPY is seen attempting to pare losses as price action fell below the 110.70 handle yesterday. In the short term, the resistance level at 111.00 – 111.88 remains in play, as price action could be seen posting a reversal at this level. USDJPY could remain range bound below the 111.00 and supported above the 110.00 level. A break out from this range could emerge next week when the Bank of Japan holds its monetary policy meeting.
