The way the currency rate moved yesterday completely matched with expectations. Due to absence of any additional stimulus, the buck continued to lose value against the Yen up until the weekly R1 at 109.92. The pair made a few attempts to break to the bottom but failed. For today, projection remains approximately the same. The pair is not expected to resume a successful plunge, as the southern side remains reliably protected by the 100- and 200-hour SMAs as well as by the weekly and monthly PP. On the other hand, a release of the US employment data today at 12:30 GMT might alter this scenario and, in contrast, help the buck to surge towards the weekly R3 at 111.13.
