USD/JPY Analysis: Might reach R1 at 111.95

USDJPY

During Thursday's trading session, the currency exchange rate was supported by the 200-hour simple moving average to end the trading session at 111.80 as it was expected! On Friday morning, the rate was trading sideways to stay at the 111.65 mark. 

In regards to the near-term future, it is expected that the rate will try to reach the weekly R1 at the 111.95 mark.  

Besides, the 55-hour and the 200-hour simple moving averages will support the surge during the day!

USDJPY

USDJPY

 

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