The strong momentum south that was driving the US Dollar early on Thursday stopped when the rate reached the monthly PP at 112.70. It subsequently edged higher, but the breached trend-line provided enough resistance to reverse the pair back south. Converging technical indicators suggest that the Greenback should finally regain some lost positions against the Yen in this session. Thus, the base scenario favours appreciation up to the 113.00 area where the aforementioned trend-line, 50.0% Fibo retracement and the 55–hour SMAs are located. Given that this is the last trading session of 2017, it is unlikely that bulls are able to breach this important resistance. Meanwhile, a fall is not expected in this session; however, the rate could likewise consolidate near the 112.80 mark
