USDJPY (112.36): The USDJPY extended declines for the second day as price action is seen now trading close to the support level at 112.04 region. In the short term, establishing support at this level could signal a bounce to the upside. USDJPY is expected to maintain the range within 113.00 and 112.04 levels of resistance and support. A breakout from either of these levels is expected to show further gains or declines. To the downside, the next support below 112.04 comes in at 111.61 – 111.57 region.
