The US Dollar continues to move sideways against the Japanese Yen for the fourth consecutive session. The pair’s movement on Monday was guided by the 55– and 100-hour SMAs which allowed the Greenback to return to the upper boundary of its four-day trading range by Tuesday morning. This level is likewise the pair’s highest position since early February.
Technical indicators remain bullish for this session, suggesting that the aforementioned moving averages are likely to continue supporting the rate. In case the prevailing range is breached to the upside, the US Dollar should approach and eventually test the weekly R1 at 109.85.
Meanwhile, the weekly PP should provide an unbreakable support at 108.80.
