During today’s morning, the USD/JPY currency pair bounced off the weekly R1 at 105.62.
It is likely that the exchange rate could gain support from the 55-, 100– and 200-hour SMAs, as well the weekly PP and the Fibo 23.60% in the 105.00/105.20 range. Thus, the rate could trade upwards in the short run.
However, if the predetermined resistance level holds, the US Dollar could trade sideways against the Japanese Yen within the following trading session.
