The US Dollar appreciated 0.17% against the Japanese Yen since Tuesday’s session. On Wednesday, the US Dollar was resisted by the 55-hour SMA to trade at the 113.13 mark.
In regards to the near-term future, most likely, the US dollar will trade sideways to reach the bottom boundary of the ascending medium pattern at the 112.80 level during the day. The rate is waiting for break-out to trade upwards or downwards in the following trading session.
However, the rate could pass through the support of the weekly S2 at the 112.91 mark and use the weekly S2 as resistance to pass the medium pattern.
