USD/JPY reveals support zone

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The decline of the USD/JPY has revealed a support zone at 127.22/127.45. Meanwhile, resistance is being found near the 128.50 level.

A move of the rate above 128.50 could encounter resistance in the 129.00 level, the weekly simple pivot point at 129.39 and the approaching 100-hour simple moving average. Higher above, note the 130.00 mark, which has acted as support in early January.

On the other hand, a decline of the US Dollar against the Japanese Yen might look for support in the 127.22/127.45 range. Further below, take into account the 127.00 level.
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