Yesterday, the USD/JPY currency pair tried to surpass the weekly S1 at 108.03. During Friday morning, the pair was trading at 107.80.
# On the one hand, the exchange rate could gain support from the 55– and 100-hour SMAs near 107.60. Note that the rate would have to surpass the 200-hour SMA and the Fibo 50.00% in the 108.10/108.35 range.
However, if the weekly S1 holds, it is likely that the US Dollar could continue to trade upwards against the Japanese Yen in the short run.
