By the middle of Tuesday’s London trading, the USD/JPY had retreated below the 55-hour simple moving average, which was located at the 108.30 level.
The rate head no technical support as low as the 108.00 level where the 100-hour simple moving average was located at. Moreover, the 108.00 mark should provide psychological support that round levels have. Due to that reason the pair should decline down.
On the other hand, the rate might trade sideways until the 100-hour SMA approaches it and pushed it higher.
