On Monday, the US Dollar declined by 27 pips or 0.25% against the Japanese Yen. The currency pair was pressured lower by the 55– and 100– hour SMAs during yesterday’s trading session.
Technical indicators suggest selling signals on the 4H time-frame chart. Most likely, the exchange rate could continue to edge lower during the following trading session.
However, the weekly support level at 108.53 could provide support for the currency exchange rate in the shorter term.
