USDJPY (108.68): The USDJPY currency pair was seen consolidating near the recently breached support level of 108.90. The rebound in price back to this level indicates that resistance is being established. In the near term, we could expect to see a downside follow through in prices as long as the resistance level of 108.90 is not breached. A break down below the recent lows of 108.48 could signal further declines in store with the potential bearish flag pattern being validated.
