USD/JPY surge reaches 130.50

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Source: Dukascopy Bank SA


On Friday morning, the USD/JPY found enough support in the 129.50/129.80 zone to start a surge. By the middle of the day's trading, the pair had already passed above the 130.50 mark.

If the US Dollar continues to surge against the Japanese Yen, resistance is most likely going to be provided by the 131.00/131.40 zone, which captures the April high levels.

Meanwhile, a potential decline of the currency exchange rate might look for support in the trend line, which connects the pair's recent low levels, the 50-hour simple moving average and the 130.00 mark. Further below, the 129.50/129.80 zone is set to act as support.
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