USD/JPY fails to reach above 134.50

Source: Dukascopy Bank SA


Since Wednesday's afternoon up to the middle of Thursday's trading, the USD/JPY currency pair was testing the resistance of the 134.50 mark and the weekly simple pivot point at 134.39. By 13:00 GMT, the rate was reached by the 200-hour simple moving average, which acted as resistance. The event was followed by a decline, which pierced the support of the 133.50 level.

In the case of a decline of the USD/JPY pair below the 133.50 level, the rate might find support in the 133.00 level, the 100-hour simple moving average near 132.80 and the 132.50 level. Further below, take into account the 132.00 and 131.50 levels.

On the other hand, a recovery of the US Dollar is expected to encounter resistance in the weekly simple pivot point at 134.39 , the 200-hour simple moving average and the 134.50 level.
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