USD/JPY respects round levels

Source: Dukascopy Bank SA


The USD/JPY currency pair's surge appears to have bounced off the 134.00 mark. The following decline has approached and found support at 133.00. Meanwhile, the rate is being approached by the 50-hour simple moving average.

A decline below 133.00 and the 50-hour SMA might look for support in the 132.50 level and the 200-hour simple moving average. Further below, the weekly simple pivot point at 132.20 and the 100-hour simple moving average could stop the pair's decline.

In the case of a potential surge of the currency pair, the 133.50 level and the weekly R1 simple pivot point at 133.72 might slow down a surge, prior to the rate reaching the 134.00 mark.
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