USD/JPY remains below 110.00

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Source: Dukascopy Bank SA


The USD/JPY managed to pass the resistance cluster that was located from 110.00 to 110.20. The rate managed to do so due to the initial surge that was caused by the US Federal Reserve on Wednesday at 18:00. However, the jump was followed by a decline. On Thursday, the rate had retreated and traded almost sideways below the 110.00 level.

In the case of a decline, the pair would look for support in the weekly S1 simple pivot point at 109.58 and the 109.60 mark, which provided support on Tuesday.

On the other hand, a surge would once again test the resistance of the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point in the 109.93 to 110.14 zone.
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Thu, 29 Jul 2021 08:06:30 GMT

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