During Tuesday morning hours, the rate was trading at the upper boundary of the medium descending pattern line at the 108.91 mark. Besides, the USD/JPY was supported by the 55-hour and the 100-hour simple moving averages.
Most likely, the currency exchange pair will get retraced by the medium pattern line to push the rate to trade at the previously drawn pattern near the 38.20% Fibonacci retracement level at the 108.43 mark.
On the other hand, the rate could break the medium pattern line at the 108.91 mark to trade towards the 50.00 Fibonacci retracement level at the 109.60 mark.
