During Monday morning hours, the USD/JPY currency pair tested the weekly PP at 105.44.
If the predetermined resistance level holds, it is likely that a reversal south could occur, and the exchange rate could target the psychological level at 105.20 within the following trading session.
Meanwhile, note that the rate could gain support from by the 55– and 100-hour SMAs, as well the monthly PP circa 105.35. Thus, the pair could try to exceed the 200-hour moving average near 105.55 in the short run.
