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The US Dollar found enough support in the 137.50/137.80 range to resume its surge against the Japanese Yen. During early hours of Tuesday, the pair made an attempt to reach the 139.00 level.
A continuation of the USD/JPY surge might be slowed down by the 139.00, 139.50 and 140.00 levels. In addition, note the weekly R1 and R2 simple pivot points at 139.18 and 140.52.
On the other hand, support is being provided by the combination of the 50 and 100-hour simple moving averages at 138.20 and the 138.00 mark. Below these levels, note the 137.50/137.80 zone that caused the most recent surge of the currency pair. Further below, take into account the weekly simple pivot point at 137.41 and the approaching 200-hour SMA.
Tue, 23 May 2023 09:55:33 GMT
Source: Dukascopy Bank SA
The US Dollar found enough support in the 137.50/137.80 range to resume its surge against the Japanese Yen. During early hours of Tuesday, the pair made an attempt to reach the 139.00 level.
A continuation of the USD/JPY surge might be slowed down by the 139.00, 139.50 and 140.00 levels. In addition, note the weekly R1 and R2 simple pivot points at 139.18 and 140.52.
On the other hand, support is being provided by the combination of the 50 and 100-hour simple moving averages at 138.20 and the 138.00 mark. Below these levels, note the 137.50/137.80 zone that caused the most recent surge of the currency pair. Further below, take into account the weekly simple pivot point at 137.41 and the approaching 200-hour SMA.