USD/JPY surges on Tuesday

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On Tuesday morning, the USD/JPY currency pair managed to reach above the resistance levels that surround the 135.50 level. By the middle of the day's European trading hours, the rate was heading to the weekly R1 simple pivot point at 136.49, the 136.50 mark and the June 21 and 22 high level zone at 136.60/136.70.

Economic Calendar



On Wednesday, note the Final US Quarterly GDP data. The data release might cause minor reactions on the chart.

Later on the same day, at 13:00 GMT, the heads of the ECB, Bank of England and the Fed are set to speak at a panel titled "Policy Panel."

Hourly Chart
If the pair reaches above the 136.70 level, resistance might be found in the 137.00 and 137.50 levels, before the rate reaches the weekly R2 simple pivot point at 137.82.

However, a decline of the US Dollar against the Yen might look for support in the 135.00/135.50 range, where the 50, 100 and 200-hour simple moving averages are located together with the weekly simple pivot point. Further below, note the last week's low levels at 134.25/134.37.

USD/JPY daily chart's review

On the daily candle chart, the rate no longer respects the 2002 high level as resistance or support.

Meanwhile, a support zone has been spotted at 131.25/132.00.

Daily chart




Traders are short

On the Swiss Foreign Exchange, traders are 73% short as that amount of open position volume was in short positions, on Monday.

Meanwhile, trader set up pending orders in the 100-pip range around the rate were 55% to buy the USD against the JPY.

On Tuesday, traders were 75% short and pending orders were 60% to buy.

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