The US Dollar appreciated 0.43% against the Japanese Yen since Tuesday’s session. During the previous trading session, the currency pair broke the 55-hour and the 100-hour SMA to stop the trade at 111.81 mark. During Wednesday’s morning hours, the US Dollar was trading between the SMAs at 112.27 mark.
In regards to the near-term future, the US dollar will trade upwards to the monthly PP at 112.60 level due to the support of the 100-hour and 55-hour SMAs.
On the other side, the currency exchange rate could depreciate to pass through the SMAs due to today’s US fundamental data releases. Watch out for the news!
