USD/JPY continues to ignore SMAs

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Source: Dukascopy Bank SA


The USD/JPY dipped to the 109.42 level on Tuesday. With it, the pair confirmed that there is a support zone in the 109.42/109.49 zone. Meanwhile, the recent August high levels have been marked to reveal a resistance zone at 110.15/110.23.

In addition, the currency exchange rate continues to ignore the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point at 109.72.

A potential surge would have to pass the 110.15/110.23 zone before reaching the weekly R1 simple pivot point at 110.32. On the other hand, a decline below the 110.15/110.23 zone could look for support in the weekly S1 simple pivot point at 109.21.

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Wed, 25 Aug 2021 09:01:52 GMT

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