USD/JPY extends decline

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


The decline of the USD/JPY reached below the 109.40 level, where it found support in the 109.33/109.36 zone. During Tuesday's trading hours, the rate had recovered and reached the resistance of the 55-hour simple moving average near 106.70.

If the 55-hour SMA provides enough resistance, the pair could once again test the 109.33/109.36 zone's support. If it would be passed, the pair could reach for the 200-hour simple moving average near 109.20.

On the other hand, a surge above the SMA could eventually reach the 110.20 level and make another attempt at breaking it.
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