The USD/JPY currency exchange rate started Tuesday’s trading by finding support in the 100-hour simple moving average and the weekly simple pivot point at 104.21. In the meantime, additional support cloud be provided by the 55 and 200-hour SMAs, which were located near 104.15.
If the combination of the mentioned support levels cause a surge, the rate could reach for the weekly R1 simple pivot point at 104.72.
On the other hand, the rate has found resistance in the 104.50 level, which might force the USD/JPY into sideways trading.
