USDJPY (110.66): The USDJPY currency pair continues trade rather flat with price action trading sideways within 111.21 resistance and 109.74 level of support. Following the brief decline off the highs near 111.15 level, the USDJPY currency pair has been trading in a tighter range. The bias is balanced as bullish momentum could see the USDJPY rising higher and potentially reach the upside target of 111.21 level. This would mark the measured move of the ascending triangle pattern the was formed on the daily chart. To the downside, a decline to 109.74 would see a retest of the breached resistance level where support is yet to be established.
