Since Thursday, the USD/JPY currency pair has been testing the resistance provided by the 55-hour SMA.
If the predetermined resistance holds, it is likely that some downside potential could prevail in the market. The exchange rate could target the support formed by the weekly S3 and the monthly S1 circa 104.20.
In the meantime, note that the currency pair could gain support from the weekly S2 at 104.62. In this case the pair could raise to the 200-hour moving average near 105.20.
