Yesterday, the USD/JPY currency pair tried to surpass the 107.80 level. During Friday morning, the pair surpassed the given level.
Given that the exchange rate is supported by the 200-hour moving average and the weekly PP at 107.84, it is likely that some upside potential could prevail in the market. A possible upside target is the weekly R1 at 108.22.
On the other hand, the currency pair could reverse from the upper boundary of the rising wedge pattern and breach the given pattern south. However, it is unlikely that the pair could decline lower than 107.46 due to the support level—the monthly R1.
