USDJPY (110.81): The USDJPY currency pair posted gains for the second day and is seen currently extending these gains. This came following the reversal of the previously established lows around 109.85. The rally sent the U.S. dollar to retest the resistance level area around 111.13 – 110.85 level. As long as this resistance level holds, the USDJPY currency pair could maintain a sideways range. To the downside, a retest of the support at 109.45 is required.
