USD/JPY reveals support range

Source: Dukascopy Bank SA


The USD/JPY currency pair eventually found support in the 133.60/133.70 range on Friday morning. Afterwards, the US Dollar surged due to the higher than expected US monthly employment data, but encountered resistance in 136.00. By 08:00 GMT on Monday, the pair was trading near the 135.00 mark, which was strengthened by the 50-hour simple moving average.

If the US Dollar surges against the Japanese Yen, the currency pair might encounter resistance in the combination of the weekly simple pivot point at 135.93 and the 136.00 level. Higher above, take into account the 136.50 level and the descending 100-hour simple moving average.

However, a potential decline of the USD/JPY rate might look for support in the 134.50 and 134.00 levels, before reaching the Friday's low level zone at 133.60/133.70.
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