The US Dollar appreciated 0.05% against the Japanese Yen since Wednesday’s session. The currency pair was located near the monthly R1 at the 112.27 mark during Thursday morning hours.
In regards to the near future, most likely, the rate will surge upwards to fit back into the previously drawn trend-line by breaking the monthly R1 at the 112.27 mark using the support of the 55-hour SMA to surge to the weekly R1 at the 112.54 mark.
On the other side, the US Dollar may bounce off the monthly R1 at the 112.27 ignoring the support of the 55-hour simple moving average to trade near the 112.00 level.
