During Monday’s trading session, the Japanese Yen appreciated against the US Dollar to break the medium pattern line at the 111.10 mark. On Tuesday morning, the currency exchange rate was located above the weekly R1 at 111.33.
In regards to the near-term future, most likely, the rate will continue the surge towards the weekly R2 at the 111.75 mark. It is expected that the rate will end the session at the 111.50 level.
On the other hand, today’s US Durable Good Orders release at 12:30 GMT might push the rate to depreciate to the 111.20 level.
