On Wednesday, the USD/JPY currency pair skyrocketed to the 115.00 level. During today’s morning, the pair jumped to the 112.00 mark.
On the one hand, the Japanese Yen could continue to depreciate against the US Dollar in the nearest future. In this case the exchange rate could exceed the psychological level at 112.50.
On the other hand, the currency pair could be in the overbought area, thus, a reversal south could occur in the nearest future. In this case the pair could target the 111.00 mark.
