USD/JPY retreats to 134.00

Source: Dukascopy Bank SA


The USD/JPY made two attempts to reach above 135.00, before a decline stared at mid-day on Thursday. The decline reached the support zone near 134.00.

A move below the support zone near 134.00 might look for support in the 200-hour simple moving average near 133.70. Further below, note the 133.50 level and the weekly simple pivot point at 133.20.

However, a resumption of the USD surge against the Japanese Yen is expected to be slowed down by the combination of the weekly R1 simple pivot point at 134.58 and the 50-hour simple moving average near 134.50. Higher above, the 135.00 could once again act as resistance.
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