During the previous trading session, the US Dollar appreciated against the Japanese Yen by 32 pips or 0.29%, breaking the resistance level of the weekly R1 at the 109.18 mark. On Friday morning, the rate was located at 109.47.
In regards to the near-term future, it is expected that the currency exchange rate will be retraced by the upper boundary of the pattern line at the 109.50 mark to trade sideways. Moreover, most likely, the rate will stay at the 109.40 level for the day.
However, the rate could be retraced by the 50.00% Fibo at 109.60 to hit the 109.200 level.
