USD/JPY continues to trade near 130.00

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Source: Dukascopy Bank SA


The USD/JPY is ignoring the technical levels like the weekly simple pivot point and hourly moving averages. The reason for the moves is the fact that the pair is waiting for the Wednesday's US Federal Reserve Rate hike.

The move above 130.00 could face resistance in the 130.50 and 131.00 levels. Both of these levels have recently acted as resistance. In addition, take into account the weekly R1 simple pivot point at 130.94.

Meanwhile, a decline of the currency pair could look for support in 129.00, 128.50 and 128.00, before the support zone near 127.25/127.50 would be reached.
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