Upside risks pressured the US Dollar against the Japanese Yen on Thursday. The currency pair tested the 61.80% Fibonacci retracement level at 109.83 during yesterday’s trading session.
The exchange rate is likely to continue the bullish momentum during the following trading session. The possible target for the USD/JPY pair could be near the 110.20 level.
However, the weekly resistance level at 109.94 could provide resistance for the currency exchange rate in the shorter term.
