USDJPY (110.76): The USDJPY attempted to recover from the declines previously. Price should rebound from the temporary low formed following the rally to highs of 111.12. If price recovers from the modest pullback, we could expect the USDJPY to test the 111.21 level which would mark the completion of the breakout from the ascending triangle pattern. Alternately, to the downside, if the previous lows at 110.25 are breached, then price action could push lower. The support at 109.74 will become the next downside target for the USDJPY currency pair.
