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Prior to the US Federal Reserve rate hike, the USD/JYP declined to the support of the 135.00 level. As the rate was hiked, it appeared that a recovery started.
A continuation of the USD surge against the Japanese Yen could be slowed down by the 136.00 mark, the combination of the 50 and 100-hour simple moving averages near 136.50. Higher above, note the 137.00 level and the weekly R1 simple pivot point at 137.53.
On the other hand, a decline of the USD/JPY below 135.00 could look for support in the 134.50 level and the combined strength of the 134.00 level and the weekly S1 simple pivot point at 133.98.
Wed, 03 May 2023 19:13:36 GMT
Source: Dukascopy Bank SA
Prior to the US Federal Reserve rate hike, the USD/JYP declined to the support of the 135.00 level. As the rate was hiked, it appeared that a recovery started.
A continuation of the USD surge against the Japanese Yen could be slowed down by the 136.00 mark, the combination of the 50 and 100-hour simple moving averages near 136.50. Higher above, note the 137.00 level and the weekly R1 simple pivot point at 137.53.
On the other hand, a decline of the USD/JPY below 135.00 could look for support in the 134.50 level and the combined strength of the 134.00 level and the weekly S1 simple pivot point at 133.98.