USD/JPY breaks historical high levels

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


On Tuesday, the USD/JPY jumped, as it broke the resistance of the 115.40/115.50 zone. The surge reached above the five year high level of early 2017 near 115.80. By the start of US trading, the pair had already reached the resistance of the weekly R3 simple pivot point at 116.35.

A move above the weekly R3 simple pivot point at 116.35 would face no technical resistance, as there is none on the hourly candle chart. One could look historical resistance on larger scale charts. However, take into account that round exchange rate levels might act as resistance.

On the other hand, a decline from the 116.35 level could look for support in the 115.80 level and the weekly R2 simple pivot point at 115.78. Further below, the 115.40/115.50 zone is highly likely to stop a potential decline.
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