Yesterday, the USD/JPY currency pair failed to exceed the psychological level at 105.50.
It is likely that the exchange rate could gain support from the 55-hour moving average near 105.33 and trade upwards in the short term. In this case the rate could target the weekly R2 at 106.15.
Meanwhile, if the predetermined psychological level holds, the currency pair could continue to trade sideways, supported by the Fibo 23.60% at 105.03.
