The US Dollar appreciated 0.61% against the Japanese Yen since Wednesday’s session. On Thursday morning, the US Dollar was traded between the weekly R1 and the weekly R2 at the 114.22 mark.
During Thursday’s trading session, most likely the rate will be traded sideways at the medium ascending pattern at the 114.40 level. The SMAs will try to catch the rate to give additional support for the currency pair.
On the other side, the rate might take the support of the pattern line to break the weekly R2 at the 114.56 mark to trade near the 114.60 level during the day.