The USD/JPY currency pair failed to break the resistance level at 110.20 on Thursday.
Currently, the exchange rate is trading near a support level formed by the 100– hour simple moving average at 109.89.
If the currency exchange rate breaks the support level, a decline towards the weekly pivot point at 109.71 could be expected within this session.
However, if the 100– hour SMA holds, the US Dollar could strengthen against the Japanese Yen during the following trading session.
