The US Dollar depreciated 0.08% against the Japanese Yen since Tuesday’s session. On Wednesday morning, the currency pair was squeezed between the 55-hour and the 100-hour SMAs at the 113.83 mark.
In regards to the near future, most likely, the US Dollar will continue surge upwards to the weekly R1 at the 114.13 level. The 100-hour SMA will support the rate during the trading session.
On the other hand, the resistance of the 55-hour simple moving average might pass the 100-hour SMA support to push the currency exchange rate to go towards the weekly pivot point at the 113.28 level.
