USD/JPY trades below 130.00

Source: Dukascopy Bank SA


In the aftermath of the volatility and testing of the 131.50 mark, which was caused by the bank of Japan, the USD/JPY currency pair has returned to trade between 128.00 and 129.00. It was observed that the 50-hour simple moving average near 129.00 had turned into resistance, as the 128.00 mark acted as support.

A move of the US Dollar against the Japanese Yen above the 50-hour simple moving average near 128.80 and the 129.00 mark could encounter resistance in the weekly simple pivot point at 129.39 and the 129.50 level. Higher above, take into account the combination of the 200-hour simple moving average and the 130.00 mark.

Meanwhile, a potential decline below 128.00 is highly likely going to look for support in the January low level zone at 127.22/127.45. Below the zone, note the 127.00 and 126.50 levels.
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.