Yesterday, the USD/JPY currency pair consolidated in the 107.50 area. During Thursday morning, the pair was testing the Fibo 23.60% at 107.02.
Note that the exchange rate is pressured by the 55-hour SMA near 107.45. Thus, some downside potential could prevail in the market. In this case the rate could gain support from the weekly S1 at 106.50.
However, if the given Fibonacci retracement holds, it is likely that the US Dollar could continue to consolidate against the Japanese Yen within the following trading session.
