USDJPY (111.92): The USDJPY currency pair was seen bouncing off the support level near 111.13 – 110.85 to close higher on the day. As price action approaches the resistance level near 112.28, the currency pair could settle back into the range within the mentioned levels. USDJPY will need to clear the resistance level of 112.28 in order to confirm the upside with a potential break of the previous highs. To the downside, the declines could be limited to the support level.
