The US Dollar managed to regain some lost positions against the Japanese Yen on Friday, thus reversing its period of decline apparent since February 2. By Monday morning, the Greenback had surpassed the 55-hour SMA and was moving towards the weekly PP, the monthly S1 and the 100-hour SMA circa 107.00.
Technical indicators on the daily time-frame suggest that the pair could edge higher this week, as bulls might want to use this opportunity to push the rate away from its 2017/2018 low of 105.70 reached early on Friday.
Strong gains, however, could be limited in this session due to the strong resistance at 107.00. The ultimate daily high should be the 200-hour SMA at 108.00 and the low—the 105.00 mark.
