On Tuesday, the US Dollar surged by 30 pips or 0.27% against the Japanese Yen. The currency pair was guided by the 55– hour simple moving average during Tuesday’s trading session.
Given that the 55–, 100– and 200– hour SMAs are below the price level, buyers could continue to pressure the USD/JPY exchange rate higher during the following trading session.
However, the currency exchange rate could encounter resistance at 110.84 within this session.
