The US Dollar rose by 36 pips or 0.32% against the Japanese Yen on Wednesday. The surge was stopped by the 55– hour simple moving average during Wednesday’s trading session.
All things being equal, the exchange rate could continue its downtrend momentum during the following trading session. The potential target for sellers will be near the 110.00 area.
However, the weekly support level at 110.46 could still provide support for the USD/JPY currency exchange rate in the shorter term.
