USDJPY (113.43): The USDJPY was seen breaking past the minor trendline. On the daily chart, the breakout from the rising wedge pattern potentially indicates the downside decline in prices. Support at 113.00 is likely to be tested in the near term. A break down below 113.00 support could, however, push USDJPY lower towards the next support level at 112.04 – 111.74 area of support. A short-term bounce to the upside could see prices rising back to the breakout level, but the bias remains poised to the downside. The bearish outlook changes only on a close above 114.24.
