The US Dollar appreciated 0.62% against the Japanese Yen since Tuesday’s session. The currency pair broke the monthly R1 at the 112.27 mark to trade at the 112.32 level during Wednesday’s morning hours.
In regards to the near future, most likely, the rate will surge upwards to break the weekly R1 at the 112.54 mark and afterwards the rate might bounce off the upper boundary of the large-scale descending pattern to trade near the 112.40 level during today’s session.
However, the rate might break the long-term pattern to move towards the weekly R2 at the 113.01 level.
