USD/JPY recovery approaches 129.50

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Source: Dukascopy Bank SA


By late Friday's trading hours, the USD/JPY currency pair had recovered and almost reached the 129.50 mark.

A move above the 129.50 level could encounter resistance in the technical levels that are spread out from 129.65 up to 130.00. Higher above, the 130.50 level might once again could stop a surge.

Meanwhile, a potential decline would look for support in the weekly S1 simple pivot point at 129.15, the 50-hour simple moving average and the 129.00 level, prior to reaching the 128.50 mark.
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