The USD/JPY was neutral as during the whole week fluctuating at the 111.20 level. The currency pair passed the 55-hour simple moving average’s resistance on Tuesday and was experiencing the 55– hour SMA support during the Wednesday’s morning hours.
Moreover, the 55-hour and 100-hour SMAs crossed each other during Tuesday’s trading session flashing bullish signals for traders. A new trend line is created facing sideways direction.
The USD/JPY rate change is unpredictable due to NAFTA agreement, which may influence the rate to go any direction at any time. Watch out for technical breakouts.
