At midnight to Friday, the USD/JPY currency exchange rate passed the October 6 high level near 111.80. On Friday morning, the currency exchange rate had almost reached the 112.00 mark. Note that the zone above the 112.00 level at 112.05/112.10 might once again act as resistance, as it did on September 29 and 30.
A move above the 112.05/112.10 level might result in a surge to the weekly R2 simple pivot point at 112.78. However, the 112.50 mark might act as a resistance level and slow down a potential move upwards.
Meanwhile, a decline from the 112.00 level or the 112.05/112.10 zone might look for support in the previous high level at 111.80. Below the 111.80 mark, the 55, 100 and 200-hour simple moving averages might serve as support levels in the 111.40/111.60 range.
