On Friday, the US Dollar rose by 58 pips or 0.54% against the Japanese Yen. The surge was stopped by a resistance cluster formed by the 55– and 100– hour SMAs near the 108.00 level during Friday’s trading session.
Technical indicators suggest that the currency pair could edge lower within this session. The potential target for the USD/JPY exchange rate will be near the 107.20 area.
However, a support level at the 107.51 area could provide support for the currency exchange rate during the following trading session.
