USDJPY (108.41): The USDJPY continued to slide as the price fell to session lows of 107.31. Further declines could be expected as the currency pair broke past the support level of 108.64 – 108.26. A minor pullback to this recently breached support level could establish resistance. A reversal off this level will set USDJPY on track to post further losses. In the unlikely event of a breakout above the support level, the bias could be shifting to the upside with 111.00 level of resistance coming into focus.
