USD/JPY was trading in the 112.85/113.30 area on Tuesday’s trading session. The Greenback was appreciating slightly against the Yen prior to being pushed lower late in the evening. The pair subsequently regained its upward momentum, bouncing off the lower Bollinger band and crossing the 55-hour SMA at 113.20. Today’s bullish indicators suggest that a rise in price is likely to occur, especially in the upcoming 24 hours. The scope of the upward momentum is yet to be seen, as no resistance up to the monthly R1 at 113.94 exist. In case of strong upside risks, this level may be reached. The nearest support is formed by the 55– and 100-hour SMAs at 113.07 and 112.70, respectively. The latter may likewise be regarded as a possible bottom limit
