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USD/JPY Is Supported By 55-Hour SMA

During Monday’s trading session, the 55-hour simple moving average supported the rate to end the trading session at 111.80. On Tuesday morning, the currency exchange rate was located at the 111.93 mark.

In regards to the near-term future, most likely, the 55-hour simple moving average will continue to support the US Dollar to push the rate to trade sideways at the 112.00 level.

Note, due to the fact that the previously drawn pattern was broken, the chart was fully reviewed to draw a new pattern!

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