USD/JPY recovers on Monday

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


The sharp Friday's drop of the USD/JPY currency rate ended at the 114.65 level. Afterwards, a recovery started, which by the middle of Monday's trading hours had reached the combination of the 50, 100 and 200-hour simple moving averages at 115.25.

A move above the three moving averages might result in the pair surging to the 115.50 level and the weekly R1 simple pivot point at 115.63. Higher above note the resistance zone at 115.70/115.80.

On the other hand, a decline of the US Dollar against the Japanese Yen could look for support in the weekly simple pivot point at 115.14, before approaching the 115.00 mark and the 114.65 level.
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