On Friday, the USD/JPY currency pair tried to exceed the 106.40 level. During today’s morning, the pair was testing the 100-hour SMA near 106.20.
From the one hand, it is likely that some upside potential could prevail in the market, and the exchange rate could reach the psychological level at 106.60.
On the other hand, note that the rate is pressured by the 55-hour SMA near 106.25. Thus, it is likely that the pair could trade sideways in the short term
