USDJPY intra-day analysis
USDJPY (110.67): The USDJPY closed at a two-month low on Friday at 111.01. The declines extended for four consecutive days following the Bank of Japan’s announcement on its longer date bonds. The price action is expected to see the USDJPY consolidate near the support zone of 111.00 – 110.88 region. We expect that price action will test this level a bit more firmly. The support level gives view to the upside as USDJPY could remain range bound within the 111.50 region and 111.00 levels of support.