The US Dollar appreciated 0.59% against the Japanese Yen since Friday’s session.
In regards to the near future, most likely the rate will bounce off the weekly PP at the 111.05 level to move downwards during the day. Meanwhile, the monthly PP with the support of the 23.60% Fibo together with the 200– hour and the 100-hour SMAs should provide additional resistance for the rate to move downwards.
However, the 55-hour simple moving average and a monthly PP at 111.02 may play role of support and push the rate upwards to the 111.40 level
