USDJPY (112.44): The USDJPY continues to consolidate near the major falling trend line around the 113.00 levels. Price action was seen briefly retreating from this resistance level yesterday and further downside could be expected. Support at 111.74 remains within reach to the downside. However, the sideways price action could be maintained in the near term. USDJPY will see further direction being established on a breakout above 113.00 or below 111.74.
