The USD/JPY was at the 110.96 mark on Monday. The currency exchange rate tested the monthly pivot point at the 111.02 during morning hours. Moreover, the 55-hour and the 100-hour SMAs crossed each other near the weekly pivot point at the 111.22 mark at the same time during morning hours.
In regards to the near future, the 55-hour and the 200-hour SMAs will meet each other which will force the US Dollar to go downwards. In addition, there is strong resistance given by the Fibonacci 61.80% retracement level.
