The US Dollar against the Japanese Yen consolidated below the 110.60 level on Thursday. The currency pair traded between the 55– and 100– hour SMAs during Thursday’s trading session.
Technical indicators suggest buying signals on the 4H and daily time-frame charts. Therefore, the exchange rate could edge higher within the following trading session.
However, the 55– and 100– hour simple moving averages near the 110.49 area could provide resistance for the currency exchange rate today.
