USD/JPY is back below 136.00

Source: Dukascopy Bank SA


The USD/JPY currency pair has bounced off the resistance of the weekly R1 simple pivot point. During the follow up decline the pair has passed below the 136.00 level and the 50-hour simple moving average.

An extension of the decline might look for support in the 135.35/135.50 range. Further below, note the 135.00 mark and the technical levels which surround it.

On the other hand, the pair could recover. In the case of a recovery, the rate is expected to face resistance in the 136.00 level and the weekly R1 simple pivot point at 136.34, before approaching 136.50 and the 137.00 mark.
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