USD/JPY Analysis: Depreciates to 108.00 level

USDJPY

During Monday morning hours, the currency exchange rate was resisted by the 200-hour simple moving average to stay at the 108.15 mark. 

In regards to the near-term future, most likely, the rate will be trading sideways between the monthly S1 at 108.17 and the weekly S1 at 107.86. 

The resistance levels of the monthly S1 and the 55-hour simple moving average will not let the US Dollar to appreciate against the Japanese Yen during the trading session on Monday.

USDJPY

USDJPY

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