USD/JPY reaches new high level

Source: Dukascopy Bank SA


At mid-day on Wednesday, the USD/JPY pair's surge hit the 134.50 mark. Meanwhile, it was spotted that the 133.50 and 134.00 levels and the weekly R2 simple pivot point failed to act as resistance.

A continuation of the USD surge against the Japanese Yen could encounter resistance in a round exchange rate level and initiate a consolidation by slightly declining or trading sideways. Take into account the weekly R3 simple pivot point's resistance at 136.34.

However, a decline of the pair is likely to look for support in the weekly R2 simple pivot point at 133.66 and the 133.00 mark.
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