USD/JPY sharply recovers

Source: Dukascopy Bank SA


The USD/JPY has recovered, as it found support in the 110.82/110.90 zone. The following surge passed the resistance of the 55, 100 and 200-hour simple moving averages. On Wednesday morning, the rate had reached the 111.80 level.

A continuation of the surge of the USD/JPY currency exchange rate could reach first for the weekly R1 simple pivot point at 111.93. Afterwards, the rate might test the resistance of the 112.00 level.

However, if the pair ends the surge and begins to decline, it might find support in the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point near 111.25.
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