On Wednesday, the USD/JPY currency pair traded upwards. During today’s morning, the pair reversed south.
It is likely that some downside potential could prevail in the market, as the exchange rate is pressured by the 55-, 100– and 200-hour moving averages in the 106.10 area.
On the other hand, it is likely that the rate could gain support from the weekly and monthly PPs at 106.00 and trade sideways within the following trading session.
