USDJPY (109.40): The Japanese yen was seen strengthening sharply on Friday with price action turning quite volatile below the 109.57 – 109.43 handle of resistance. This consolidation is expected to continue. However, an upside breakout out could trigger a possible retracement toward the 110.85 level of resistance. To the downside, the USDJPY could be seen targeting the lower support at 108.90 price level where support is most likely to be established.
