The US Dollar appreciated 0.30% against the Japanese Yen since Wednesday’s session. During the previous trading session, the currency pair broke the resistances of the 200-hour SMA, the monthly PP at 112.60 and the weekly PP at 112.667 to stop the trade at 112.56. During Thursday’s morning hours, the US Dollar was trading at the monthly PP at 112.60 mark.
In regards to the near-term future, most likely, the US dollar will trade upwards to the 113.00 level due to the support of the 200-hour simple moving average.
On the other side, the currency exchange rate could be resisted by the 61.80 % Fibo at 112.72 mark to push the rate to trade at 112.40 mark during the day.
