USDJPY (110.09): The USDJPY currency pair extended declines yesterday as price action was seen easing to a fresh two months low earlier today. The decline of the support level area between 111.13 – 110.85 signals the move lower. The USDJPY is likely to maintain its range below the resistance level with the retest of 109.45 likely. Establishing support here could signal a short-term rebound. Further declines can be expected only on a close below the support level at 109.45.
