The US Dollar edged higher by 72 pips or 0.66% against the Japanese Yen on Thursday. The currency pair tested the 109.21 area during yesterday’s trading session.
The exchange rate reversed from the resistance level at 109.21 during the Asian session on Friday. Most likely, bearish traders could pressure the USD/JPY pair lower within this session.
However, the 55– hour simple moving average at 108.82 could provide support for the currency exchange rate in the shorter term.
