Despite some minor fluctuations, the US Dollar remained stable against the Yen on Friday. The pair breached the 55-hour SMA, but a further fall was limited by the 100-hour moving average.
The pair still remains trading in a short-term channel down; thus, it is more likely that the Greenback continues to edge lower in this session, as well, especially if the 55-hour SMA and the upper channel line are located nearby at 109.25. In case this cluster is surpassed, the next resistance barrier is the weekly R1 at 109.85.
Meanwhile, it is expected that the pair tries to reach the breached seven-week wedge. The nearest support is set by the weekly PP and the monthly R2 at 108.75. The same bearish sentiment is likely to prevail during the following sessions, as well.
