USD/JPY reveals support and resistance zones

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


The USD/JPY rate continued its surge until it encountered resistance in the 154.70/154.80 range. Moreover, on Tuesday, support was revealed at 153.85/153.95. Since Tuesday, the pair has been fluctuating between these levels. Meanwhile, it appears that support and resistance is found from time to time in the 50 and 100-hour simple moving averages. On Thursday, the rate was being squeezed in between the moving averages.

If the rate breaks above the 154.70/154.80 range, the 155.00 mark is expected to act as resistance. Higher above, note the 155.50 level and the weekly R3 simple pivot point at 155.75

On the other hand, a decline of the US Dollar against the Japanese Yen would have to pass the 100-hour SMA and the 153.85/153.95 range and the weekly R1 simple pivot point. Below these levels, the pair is set to look for support in the 153.50 level and the 200-hour simple moving average. Further below, note the 153.00 level and the weekly simple pivot point at 152.72.
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