The narrow ascending pattern of the USD/JPY currency pair, which was drawn on Thursday, has held its ground, as the surge of the currency exchange rate has extended into Friday. Namely, on Friday morning the rate had reached above the 112.75 level.
The rate was expected to continue its surge in the future, as it faced no resistance as high as the 113.65 mark, where a historical high level was located at. In addition, the high level was supported by a pivot point at 113.75.
Meanwhile, note that the 55-hour SMA was approaching near the 112.00 mark to provide support.
