During today’s morning, the USD/JPY currency pair raised to the 105.80 level.
It is unlikely that some downside potential could prevail in the market due to the support area formed by the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 105.30/105.54 area.
It is likely that the exchange rate could continue to trade upwards within the following trading session. In this case the rate could reach the weekly R1 located at the 106.17 mark.
