The US Dollar appreciated 0.28% against the Japanese Yen since Monday’s session. On Monday morning, the currency pair was located near the monthly R1 at the 112.27 mark, which stopped the rate from the surge.
In regards to the near future, most likely, the rate will keep trading sideways with the support of the 55-hour simple moving average and the resistance of the monthly R1, staying at the 112.00 level during the day.
On the other hand, the rate might break the resistance of the monthly R1 and the resistance of the upper boundary of the medium pattern to trade near the weekly R1 at the 112.55 mark.
