USD/JPY remains near 109.00

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Source: Dukascopy Bank SA


Despite the increase of volatility at mid-day on Wednesday, the USD/JPY currency exchange rate traded near previous days levels at mid-day on Thursday.

In the near term future, the rate could decline, as it was being pushed down by hourly simple moving averages. A potential decline would most likely look for support in the 108.80 mark. Below that level, the weekly S1 simple pivot point could provide support at 108.56.

On the other hand, a surge of the USD/JPY would have to test the resistance of the 55, 100 and 200-hour simple moving averages, the weekly simple pivot point and a potential resistance zone. All of these levels are located from 109.00 to 109.30.
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