USD/JPY Analysis: Remains above 107.80
|USDJPY
The USD/JPY on Tuesday morning remained above the support of the round level of 107.80 and the monthly pivot point at 107.84. The rate had even made an attempt to surge and test the resistance of the 55-hour simple moving average.
In general, the mentioned simple moving average will push the rate into the support levels at 107.80. If the rate properly passes the 107.80 level, it could fall to a weekly pivot point at 107.50.
In the other case, the 55-hour SMA could fail and the rate would continue to trade sideways until the 100-hour SMA strengthens the technical resistance that the pair faces.
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