During previous trading session, the USD/JPY currency pair resumed trading sideways between the resistance level—the monthly R1 at 112.11 and the support level at 111.85.

If the given resistance and support hold, it is likely, that the exchange rate could continue to trade sideways in the nearest future.

On the other hand, given that the rate is pressured by the 55– and 100-hour SMAs, the pair could breach the given support and decline to the weekly PP at 111.66.

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