During the previous trading session, the currency exchange rate traded sideways to stay near the monthly S1 at 108.17 as it was predicted! On Tuesday morning, the US Dollar appreciated against the Japanese Yen to the 108.57 mark.
In regards to the near-term future, most likely, the currency exchange rate will trade upwards to break the resistance of the descending dominant pattern line at 108.70. It is expected that the rate might reach the 108.00 level during the trading session on Tuesday.
On the other hand, the US dollar could depreciate against the Japanese Yen to pass through the support levels of the most technical indicators to trade at 108.20.
