USD/JPY approaches 133.50

Source: Dukascopy Bank SA


The continuous decline of the USD/JPY has been fuelled by US fundamental data like employment numbers and inflation. In addition, central bank comments have kept the USD loosing value. By the middle of Friday's trading, the pair was heading to the 133.50 level.

If the US Dollar continues to decline against the Japanese Yen, the rate could find support in the 133.50 level, the weekly S3 simple pivot point at 133.13 and the 133.00 mark. Further below, only round price levels might act as support, as there are no more technical levels located below 133.13.

Meanwhile, a potential recovery of the USD against JPY is highly likely set to encounter resistance in the 135.00 mark, the weekly S2 simple pivot point at 135.60 and the combination of the 136.00 level with the 50-hour simple moving average.

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