USD/JPY reaches above 137.50

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Source: Dukascopy Bank SA


The USD/JPY currency exchange rate has ended trading around the 137.00 mark by surging above the 137.50 level. In the meantime, on Tuesday morning, the pair was reached from below by the support of the 50-hour simple moving average.

A resumption of the US Dollar's surge against the Japanese Yen could encounter resistance in the 138.00 level and the combination of the 138.50 mark and the weekly R1 simple pivot point at 138.55.

On the other hand, a decline of the pair would look for support in the 50-hour simple moving average near 137.10 and the 137.00 level, before the pair approaches the 136.50 level and the 100-hour SMA.
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