USD/JPY reveals trend lines

Source: Dukascopy Bank SA


In general, the USD/JPY continues to surge higher, as a new high was reached on Monday. Meanwhile, by taking a broader look one can spot a support and a resistance lines that both have impacted the rate throughout June.

The ongoing surge is expected to continue between the two trend lines. Resistance could be encountered in the 161.50 level, the weekly R1 simple pivot point at 161.81 and the 162.00 level.

In the case of a decline of the pair, the combination of the 50-hour simple moving average and the 161.00 level could provide support, before the pair approaches the supporting trend line and the 100-hour simple moving average.
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