USD/JPY reveals resistance zone

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Source: Dukascopy Bank SA


The USD/JPY currency exchange rate has revealed that it faces resistance at the 136.28/136.38 zone. The zone was strong enough to cause a decline, which by the middle of Wednesday's European trading hours had almost reached the 135.00 level.

In the case of the pair declining below the 135.00 mark, support could be found in the 134.75/134.80 zone, before the rate approaches the 134.50 level. Further below note the late June low level zone at 134.25/134.35.

Meanwhile, a recovery of the US Dollar against the Japanese Yen could encounter resistance in the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point near 135.50/135.70. Higher above, recall the 136.00 level and the 136.28/136.38 zone.
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Wed, 06 Jul 2022 10:55:58 GMT

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