USD/JPY respects moving averages

Source: Dukascopy Bank SA


The rate has made a second attempt to reach the 141.00 mark. However, the rate's efforts were stopped by a now marked resistance zone at 140.89/140.93. Meanwhile, it has been spotted that hourly simple moving averages manage to act as resistance and support.

In the case of a resumption of the USD surge against the Japanese Yen would have to pass the 140.00 mark and the 50 and 100-hour simple moving average and the 140.89/140.93 zone. Afterwards, new high levels could be reached. Take into account that most likely round levels and weekly simple pivot points are expected to act as resistance.

However, a decline of the USD against the Yen needs to pass the support of the 200-hour SMA and the 138.70/138.90 range. Further below, note other round levels and the 137.50/137.80 zone.
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