USDJPY Analysis: Will trade downside
|USDJPY
The US Dollar depreciated 0.36% against the Japanese Yen since Friday's session. During the previous trading session, the currency pair was resisted by the 55-hour SMA during the whole trading session. On Monday morning, the US Dollar was located near the monthly S1 at the 111.66 mark.
In regards to the near-term future, most likely, the US dollar will trade downwards to the monthly S1 at the 111.49 mark. The US retail sales data sets will come out at 12.30 GMT on Monday.
In addition, it is expected that the currency pair might pass the monthly S1 and the weekly S1 at the 111.39 mark due to the fundamentals.
Interested in USDJPY technicals? Check out the key levels
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