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The US dollar is easing against the yen on Thursday after Wednesday' surge.
The exchange rate rose yesterday twice towards the 107.90 level, though resistance imposed at that level deterred it from testing the weekly R1 (108.33).
At 1120 GMT, the exchange rate is gravitating around the 107.30 and beneath the previous mentioned level lies the lower boundary of the hourly Bollinger bands at 107.17.
The upper boundary of the hourly Bollinger bands emerges at 107.85, which is positioned at the same level, where the exchange rate faced a hurdle twice yesterday.
Beneath the 107 level lies the 100-hour SMA (106.97), which combined with the weekly pivot point (106.93) may prompt demand to arise, if tested.
The exchange rate rose yesterday twice towards the 107.90 level, though resistance imposed at that level deterred it from testing the weekly R1 (108.33).
At 1120 GMT, the exchange rate is gravitating around the 107.30 and beneath the previous mentioned level lies the lower boundary of the hourly Bollinger bands at 107.17.
The upper boundary of the hourly Bollinger bands emerges at 107.85, which is positioned at the same level, where the exchange rate faced a hurdle twice yesterday.
Beneath the 107 level lies the 100-hour SMA (106.97), which combined with the weekly pivot point (106.93) may prompt demand to arise, if tested.
