During Friday’s trading session, the US Dollar broke the support levels of the 55-hour and the 100-hour simple moving averages to end the trading day at the 113.34 mark. During Friday’s morning hours, the rate was located between the 55-hour and the 100-hour SMAs to trade at the 113.46 mark.
The US Dollar will depreciate against the Japanese Yen to trade sideways near the weekly pivot point at the 113.11 mark. Moreover, the 200-hour SMA should support the rate during the trading session on Monday.
However, the currency exchange rate could be supported by the 100-hour SMA to push the rate to trade up towards the weekly R1 at the 114.00 level.
