USD/JPY recovery reaches above 151.00

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Source: Dukascopy Bank SA


The ongoing recovery of the US Dollar against the Japanese Yen has reached above the combined resistance of the 151.00 mark and the weekly R1 simple pivot point at 151.09.

A continuation of the ongoing surge is expected to be slowed down by the 151.50 level. Afterwards, the pair is set to test the resistance of the October 31 high level at 151.70.

On the other hand, a decline of the currency exchange rate is set to look for support first in the 50-hour simple moving average near 150.75. Below the 50-hour SMA, take into account the 150.50 level and the combination of the 100 and 200-hour simple moving averages near 150.30.
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