Forex: USD/JPY sticks to weekly R1 at 113.36

During Thursday’s trading session, the currency exchange rate broke the weekly R1 at 113.36 to end the trading session at the 113.37 mark. On Friday morning, the US Dollar was located near the weekly R1 at 113.36 to trade at the 113.39 mark.

In regards to the near-term future, it is expected that the US Dollar will trade sideways to stay near the weekly R1 at 113.36 due to the strong resistance and the support levels of the technical indicators. Most likely, the currency exchange pair will be trading at the 113.40 level during the trading day.

On the other side, the stronger support level of the 200-hour SMA could help the rate to break the resistance of the 55-hour SMA to push the rate to trade at 113.60.