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The US dollar is flat against the yen on Friday morning European session.
The exchange rate moved higher during the Asian session and reached the 112.70/80 area. Though, at 0715 UTC it is struggling to move above there.
Note that the weekly R3 is located at 111.84 and the exchange rate seems to be consolidating above the 112 level.
The previous close above the 112 level opens the door till the 113 level.
The hourly RSI ticks at 68.22 and before the next move higher occurs, the exchange rate will likely visit the area where the 55-hour SMA is located at (112.02).
The exchange rate moved higher during the Asian session and reached the 112.70/80 area. Though, at 0715 UTC it is struggling to move above there.
Note that the weekly R3 is located at 111.84 and the exchange rate seems to be consolidating above the 112 level.
The previous close above the 112 level opens the door till the 113 level.
The hourly RSI ticks at 68.22 and before the next move higher occurs, the exchange rate will likely visit the area where the 55-hour SMA is located at (112.02).
