USD/JPY returns to 130.50

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Source: Dukascopy Bank SA


Despite recovering on Monday, the USD/JPY currency pair was observed to have declined and found support in the 130.50 level.

A potential recovery is expected to be slowed down by the combination of the 131.00 mark, the 50 and 100-hour simple moving averages and the weekly simple pivot point at 131.11. Higher above, in the case of the pair piercing the 200-hour SMA and the 131.50 level, a surge up to the 132.00 mark could occur.

On the other hand, a decline is set to look for support in 130.50, 130.00 and the 129.64/129.67 range.
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