The 200-hour simple moving average has kept the rate up since December 7. However, the USD/JPY has been piercing the support of the SMA. At mid-day on Tuesday, the rate was heading to the support of the SMA and the weekly simple pivot point at 113.40.
In the case of the rate passing the support of the 200-hour SMA and the weekly simple pivot point at 113.40, a potential decline might reach the weekly S1 simple pivot point at 112.84. However, note that the 113.00 mark might act as support.
On the other hand, a recovery of the US Dollar against the Japanese Yen is highly likely going to encounter resistance at the December high level zone at 113.88/113.96. In addition, the weekly R1 simple pivot point is located at 113.95.
