The US Dollar appreciated 0.19% against the Japanese Yen since Friday’s session. During Monday morning hours, the currency pair bounced off the upper boundary of the large descending pattern at 112.66 mark.
In regards to the near future, most likely, the rate should go downwards towards the weekly PP at 112.38 mark. Later, the rate might trade sideways during the session on Monday.
On the other side, the 55-hour and 100-hour simple moving averages may support the US Dollar to break the large pattern once again to trade in the 112.80 on Monday.
