USDJPY (108.87): The USDJPY was seen trading flat yesterday with price action caught within the range from last Friday’s high and low. Price action remains trading close to the 108.26 level in the near term. The modest decline yesterday resulted in a higher low being formed near the top end of the support at 108.64. A break out above 109.08 could suggest a reversal and a correction. The upside target comes in at 110.34 at the very least where the previously held support level could turn to resistance.