USD/JPY decline reaches below 135.00

Source: Dukascopy Bank SA


On Friday morning, the USD/JPY currency rate reached below the 135.00 level. Previously, the rate broke the channel up pattern and declined below the 100 and 200-hour simple moving averages and the weekly simple pivot point at 135.38.

If the currency pair continues to decline, the 134.50 level might act as support, before the rate reaches the last week's low level zone at 134.25/134.35.

However, a recovery of the US Dollar against the Japanese Yen could encounter resistance in the 136.00 level, which might be strengthened by the 50, 100 and 200-hour simple moving averages. Higher above, note the 2022 high level of 137.00.
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