USD/JPY pierces 140.00 mark

Source: Dukascopy Bank SA


As it was forecast, the USD/JPY has finally reached the 140.00 mark. Moreover, on Thursday, the round exchange rate level was passed and the rate traded above it, before retracing back downwards. On Friday, it appeared that the USD/JPY was looking for support in the 139.50 level and the 50-hour simple moving average.

A resumption of the USD surge against the Yen could be slowed down by the 140.00 mark and the combination of the weekly R2 simple pivot point at 140.52 and the 140.50 level. Higher above, note the round levels of 141.00 and 141.50.

However, in the case of a decline of the USD, the pair would have to pass the 139.50 mark and the 50-hour SMA. Further below, note the weekly R1 simple pivot point at 139.18 and the 100-hour SMA near the 139.00 mark. In addition, 138.90/138.95 zone has been acting as support and resistance. In the case of these support levels failing, the 138.50 mark and the 200-hour SMA might act as additional support.
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