The USD/JPY currency pair continued to test the psychological level at 105.50.
It is likely that some upside potential could prevail in the market, as the exchange rate could gain support from the 55-hour moving average near 105.00. In this case the rate could gain support from the weekly R2 at 106.15.
Meanwhile, if the given psychological level holds, the currency pair could trade downwards in the short term. The pair could gain support from the 100– and 200-hour SMAs, as well the weekly PP in the 103.98/104.50 range.
