USDJPY (111.16): The USDJPY currency pair has been consolidating strongly near the support level of 111.13 – 110.85. The failure to extend the declines is likely to keep the USDJPY currency pair to trade sideways. There is a risk of an upside breakout if price clears the falling trend line. A close above this trend line could trigger gains that could keep the USDJPY biased to the upside. The previous resistance level at 112.28 remains the key level of interest that could be targeted
