USD/JPY fails to pass 134.50

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Source: Dukascopy Bank SA


The 134.50 mark provided enough resistance to the USD/JPY to cause a retracement down below the 133.50 level, the 50-hour simple moving average and the weekly R2 simple pivot point at 133.66. During the second half of Thursday's trading, the pair had resumed its surge, as it reached above 134.00.

If the pair manages to reach above the 134.50 mark, might encounter resistance in one of the round exchange rate levels, before the weekly R3 simple pivot point at 136.34 would be reached.

On the other hand, a decline of the rate might find support either at 133.50 or the 132.90/133.30 zone.
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