USDJPY (110.84): The USDJPY currency pair was seen giving up the gains as the currency pair drifted lower after the gains stalled near the resistance level of 111.18 – 110.85 level. A break down below this level could signal a correction in the currency pair toward 109.57 – 109.43 region. This correction would mark a retest of the support level which previously served as resistance. To the upside, any gains are likely to be limited to the resistance level for now.
