USDJPY Analysis: Will drop to 111.40 level
|USDJPY
The US Dollar appreciated 0.43% against the Japanese Yen since Thursday's session. During the previous trading session, the currency pair was trading below the weekly S3 at the 111.80 level. On Friday, the US Dollar was trading between the weekly S3 and the monthly PP at the 112.43 mark.
In regards to the near-term future, most likely, the US dollar will trade downside due to the resistance of the 55-hour SMA. It is expected that the rate will drop to the 111.40 level during the day.
However, the US Dollar might trade sideways to stay at the 112.00 level due to a lack of fundamentals during the trading session.
Interested in USDJPY technicals? Check out the key levels
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