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The decline of the USD/JPY currency pair eventually reached the 132.50 level. However, on Friday morning, the 132.50 provided enough support to cause a recovery. By the middle of the day's European trading, the pair had almost recovered to the 134.50 mark.
A continuation of the USD/JPY surge could encounter resistance in the 134.75 level, the weekly S1 simple pivot point and the 135.00 mark together with the 50-hour simple moving average. Higher above, note the 135.50 and 136.00 levels and the 100-hour simple moving averages near 135.86.
However, a potential decline of the currency pair is expected to look for support in the weekly S2 simple pivot point at 133.50, prior to once again reaching the 132.50.
Fri, 29 Jul 2022 13:26:19 GMT
Source: Dukascopy Bank SA
The decline of the USD/JPY currency pair eventually reached the 132.50 level. However, on Friday morning, the 132.50 provided enough support to cause a recovery. By the middle of the day's European trading, the pair had almost recovered to the 134.50 mark.
A continuation of the USD/JPY surge could encounter resistance in the 134.75 level, the weekly S1 simple pivot point and the 135.00 mark together with the 50-hour simple moving average. Higher above, note the 135.50 and 136.00 levels and the 100-hour simple moving averages near 135.86.
However, a potential decline of the currency pair is expected to look for support in the weekly S2 simple pivot point at 133.50, prior to once again reaching the 132.50.