USD/JPY finds support in 130.00

Source: Dukascopy Bank SA


The USD/JPY currency pair has found support in the 130.00 mark. However, it appears that all attempts to surge are being stopped in the 131.20/131.85 range. In this range all this week surge attempts have been reversed.

A surge of the US Dollar against the Yen would have to reach above the 131.20/131.85 range. Higher above, the 132.00 and 132.50 levels could slow down a surge, before the pair reached the February high at 132.93.

On the other hand, a decline of the US Dollar would look for support in round exchange rate levels, prior to approaching the February low levels at 128.08/128.17. Below this range, note the December low level zone at 127.20/127.45.
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