USD/JPY reveals resistance zone

Note: This section contains information in English only.
Source: Dukascopy Bank SA


First of all, the USD/JPY has broken the channel up pattern, which guided the rate up during the end of the last week. Meanwhile, the pair has revealed that it faces a resistance zone at 115.70/115.80. In the meantime, support was being provided by the 50-hour simple moving average and the 115.30 level.

If the US Dollar passes the 115.70/115.80 zone against the Japanese Yen, the rate might find resistance in the 116.00 mark. Further above, the weekly R1 simple pivot point at 116.13 could stop a potential surge, before the pair reaches the 2022 high level zone at 116.25/116.35.

Meanwhile, a decline of the US Dollar against the Japanese Yen would look for support first in the 50-hour simple moving average near 115.40. Further below, note the weekly simple pivot point at 115.27 and the 100 and 200-hour simple moving averages near 115.15.
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