The USD/JPY currency pair remains below the psychological level at 105.80.
It is likely that the exchange rate could gain support from the 55– and 100-hour SMAs, as well the weekly PP in the 105.25/105.45 range. Thus, some upside potential could prevail in the market.
Note that the rate could face the resistance level—the weekly R1 at 105.90. If the predetermined level holds, a reversal south could occur and the pair could try to decline below the given support range.
