The US Dollar depreciated 0.02% against the Japanese Yen since Friday’s session. On Monday morning, the currency pair was located at the 112.00 level between the monthly R1 at the 112.27 mark and the weekly PP at the 111.70 mark.
In regards to the near future, the rate will surge upwards to the upper boundary of the medium ascending line at the 112.20 level and the monthly R1 at the 112.27 mark and most likely, the rate will bounce off the pattern line to move back into the previously drawn trend-line.
Moreover, the 55-hour simple moving average should give additional support for the currency pair during the trading day.
