On Friday, the USD/JPY currency pair reversed north from the lower boundary of the medium-term ascending channel. During today’s morning, the pair traded near 109.90.
It is unlikely that some downside potential could prevail in the market due to the resistance cluster formed by the 55-, 100– and 200-hour SMA, as well the weekly PP in the 109.80 area.
It is likely that some upside potential could prevail in the market in the nearest future, and the exchange rate could target the psychological level at 110.00
