Yesterday, the USD/JPY currency pair dropped to the 105.90 level. During today’s morning, the pair touched 105.80.
Given that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages in the 106.10 area, it is likely that some downside potential could prevail in the market within the following trading session.
However, if the given resistance does not hold, it is likely that the currency pair could target the psychological level at 106.40.
