The US Dollar appreciated 0.37% against the Japanese Yen since Friday’s session. During the previous trading session, the rate was supported by the 55-hour SMA to stop the trade at 112.35. On Monday, the US Dollar broke the resistances of the monthly PP at 112.60 and the 61.80% Fibo to trade at the 112.72 mark.
In regards to the near-term future, most likely, the US Dollar will be supported by the 61.80% Fibo to trade at 112.80 level on Monday. However, the surge will not be significant due to a lack of any fundamental news during the trading session.
On the other side, the rate might get resisted by the 61.80% Fibo to trade at 112.50 level during the day.
