Yesterday, the USD/JPY currency pair tried to surpass the 109.90 level. During Wednesday morning, the pair jumped to 110.10.
From the one hand, it is likely that the exchange rate could continue to extend gains within the following trading session. In this case the rate could reach the 110.20 level.
On the other hand, a reversal south could occur in the nearest future. In this case the currency pair could gain support of the 55– and 100-hour SMAs near 108.80.
