Dukascopy Bank Team
Dukascopy Bank SA
USDJPY
The US Dollar appreciated 0.43% against the Japanese Yen since Tuesday's session. During the previous trading session, the currency pair broke the 55-hour and the 100-hour SMA to stop the trade at 111.81 mark. During Wednesday's morning hours, the US Dollar was trading between the SMAs at 112.27 mark.
In regards to the near-term future, the US dollar will trade upwards to the monthly PP at 112.60 level due to the support of the 100-hour and 55-hour SMAs.
On the other side, the currency exchange rate could depreciate to pass through the SMAs due to today's US fundamental data releases. Watch out for the news!
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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