The USD/JPY currency exchange rate has revealed that it is trading sideways in a 35 base point range between the 109.74 and 110.09 levels. Meanwhile, additional resistance was being provided by the 55-hour simple moving average at 110.05.
In the case that the rate passes the levels near 110.00, it would face additional resistance from the 100-hour simple moving average at 110.20. Above that, level 200-hour simple moving average and the weekly simple pivot point at 110.29 could provide resistance.
On the other hand, a decline below 109.74 could look for support in the July low level at 109.54. Below the July low level, the weekly S1 simple pivot point at 109.38 could provide additional support.
