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The support levels at 121.00/121.50 held out for a third time and have caused a surge, which has managed to break the resistance of the 122.50 mark.
In the near term future, the USD/JPY might encounter resistance at 123.00 and the zone at 123.44/123.70.
On the other hand, a potential decline would most likely look for support in the 122.50 level and the 100-hour simple moving average, before dropping to the 122.00 mark. Note that the 122.00 mark is strengthened by the 50 and 200-hour simple moving average.
Fri, 01 Apr 2022 13:05:06 GMT
Source: Dukascopy Bank SA
The support levels at 121.00/121.50 held out for a third time and have caused a surge, which has managed to break the resistance of the 122.50 mark.
In the near term future, the USD/JPY might encounter resistance at 123.00 and the zone at 123.44/123.70.
On the other hand, a potential decline would most likely look for support in the 122.50 level and the 100-hour simple moving average, before dropping to the 122.00 mark. Note that the 122.00 mark is strengthened by the 50 and 200-hour simple moving average.