USD/JPY reaches new low level

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


The decline of USD/JPY continues, as on Tuesday morning the pair had reached the 130.50 mark. During the first half of the day's European trading hours, the currency pair was fluctuating between the 130.50 and 131.00 levels.

A resumption of the US Dollar's decline against the Japanese Yen might find support in the 130.00 mark, prior to approaching the 129.50 level and the weekly S2 simple pivot point at 129.43. Further below, note the 129.00, 128.50 and 128.00 levels.

However, a recovery of the currency exchange rate might encounter resistance in the weekly S1 simple pivot point at 131.32 and the combination of the 131.50 level and the upper trend line of the channel down pattern.
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