USDJPY (111.30): The USDJPY currency pair extended losses as price action was seen trading near the support region of 111.13 – 110.85. The consolidation at this level could see the declines continuing to extend lower. A breakdown below the support could push USDJPY lower with the next support seen at 109.45. To the upside, price action is seen struggling to breakout to the upside after breaching the trend line. Any gains are likely to stall back bear the 112.28 resistance provided USDJPY breaks past the previous local highs.
