USDJPY (111.07): The USDJPY currency pair was seen giving up the gains as the currency pair slipped below the 111.13 level. However, price action seen currently making up for the declines. However, a retest of 111.13 is likely to occur. Failure to breakout above 111.13 could signal a move to the downside. The USDJPY currency pair could be seen settling into a range between 111.13 and 110.62 level. A breakout from this level could trigger a short term trend in the direction of the breakout.
