USD/JPY Analysis: Surges to dominant pattern line

USDJPY

During the previous trading session, the rate was testing the weekly R2 at 110.51. During Wednesday's midnight hours, the weekly R2 supported the currency exchange rate at the 110.70 mark. 

It is expected that the US Dollar will continue appreciating against the Japanese Yen to break the resistance of the 61.80% Fibonacci retracement level at 110.77. 

Moreover, today's US CPI and Core CPI data release at 13:30 GMT will support the US Dollar to end the trading session at the 110.80 level.

USDJPY

USDJPY

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