On Tuesday, the US Dollar fell by 41 pips or 0.37% against the Japanese Yen. The 200– hour simple moving average pressured the currency pair lower during yesterday’s trading session.
Currently, the USD/JPY exchange rate is trading near a support level at the 110.44 area.
If the support line holds, buyers could drive the price higher within the following session.
However, if the currency exchange rate breaks the weekly support line, the next target for short traders will be near the 110.00 area.
