Following its short-term trading range, the USD/JPY pair takes another U-turn from the range resistance while taking rounds to 108.62 during Thursday’s Asian session. 200-Hour Simple Moving Average (HMA) at 108.55 seems to offer immediate support ahead of the range’s lower-end close to 108.25. In a case of pair’s further declines below 108.25, prices could drop to 108.00 whereas 107.50 might question bears afterward. On the upside, pair’s rise past-108.75, including range resistance, could recall 109.00 on the chart. However, August month high near 109.30 may limit the quote’s additional rise. It’s worth pointing out ... (full story)