On Tuesday, the currency exchange rate passed the support of the 55-hour simple moving average to end the trading session at 111.60. During Wednesday’s morning hours, the 100-hour simple moving average supported the rate to push it to the 111.86 mark.
Most likely, the US Dollar will continue appreciating against the Japanese Yen to break the resistance of the monthly R1 at 112.10 to trade at the 112.20 level.
Meanwhile, the 100-hour simple moving average will try to support the rate during the day.
