USD/JPY faces 156.00/156.30 zone

Source: Dukascopy Bank SA


As the US news passed, the USD/JPY started to recover. The inherent weakness of the Japanese Yen will continue to dominate the USD/JPY charts, despite USD weakness. Since Friday, the pair was testing the resistance of the 156.00/156.30 range. Meanwhile, support is provided by the 50, 100 and 200-hour simple moving averages.

A move above 156.30 is set to face the 156.50 level and the combination of the 157.00 mark and the weekly R1 simple pivot point at 157.06. Higher, the 157.50 and 158.00 levels are set to act as resistance.

In the case of a decline below the hourly simple moving averages, the 155.50 level and the weekly simple pivot point at 155.33 might provide support. Further below, the 154.50/154.80 range is set to impact the rate.
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