USD/JPY retreats due to USD weakness

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


The decline of the USD/JPY, which started after the test of the 125.00 mark, has gained new strength, as the US Dollar has lost value against all currencies. Namely, risk on sentiment on Tuesday increased the losses of the USD against the Japanese Yen, as the pair touched the 122.00 mark.

If the pair declines below the 122.00 mark, support might be found in the 121.00/121.50 zone. In that zone, the last week's high and low level zone is located at. In addition, the weekly simple pivot point at 121.27 might act as support. Moreover, the 200-hour simple moving average has approached the 121.00 mark.

However, a resumption of the surge of the USD/JPY rate might encounter resistance in the 50-hour simple moving average near 123.20, the weekly R1 simple pivot point at 123.44 and the late 2015 high level at 123.70.
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