USDJPY (112.38): The USDJPY currency pair fell briefly below 112.28 support before recovering back. The rebound of this level failed to see the currency pair make any major gains. Therefore, we expect to see the U.S. dollar extending the declines against the yen. A break down below 112.28 could signal a near-term decline to the lower support at 111.13 – 110.85 regions. In the near-term, the currency pair could be seen maintaining a sideways range within the levels.
