USD/JPY Analysis: Trades At 111.80 level

The US Dollar appreciated 0.58% against the Japanese Yen since Thursday’s session. On Friday, the currency pair was located at the 111.80 level between the weekly R1 at the 111.72 mark and the monthly R1 at the 112.27 mark.

In regards to the near future, most likely, the rate will surge upwards to the 112.20 level near the monthly R1 at the 112.27 mark, which could push the rate to retrace backwards into the trend-line during the trading day.

However, the rate can pass the support of the weekly R1 at the 111.72 reach for the 55– hour simple moving average, which might push the rate upwards to break the weekly R1 one more time.