Yesterday, the USD/JPY currency pair declined to the 102.60 mark.
Given that the exchange rate is pressured by the 55– and 100-hour moving averages, as well the weekly S1, it is likely that some downside potential could prevail in the market. Note that the rate could face the support level—the weekly S2 at 102.45.
If the predetermined support holds, the currency pair could bounce off to re-test the given resistance. Otherwise, the pair could target the psychological level at 102.20.
