USDJPY (111.33): The USDJPY currency pair was seen consolidating above the support region of 111.13 – 110.85. The rebound off this support was limited in range, with price action posting a lower high. However, a break down from the support handle could signal a potential correction to the downside. The next main support is seen at 107.78. To the upside, the resistance 112.28 remains a key level of interest. A breakout above this level is required for the USDJPY to post further gains.
