The US Dollar declined by 30 pips or 0.27% against the Japanese Yen on Tuesday. The currency pair breached the 55– and 100– hour SMAs during Tuesday’s trading session.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The possible target for sellers would be near the 108.53 level.
However, the USD/JPY currency exchange rate could make an upside reversal from an order block at 108.60 within this session.
