USD/JPY reaches another new high level

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


The retracement of the USD/JPY currency exchange rate downwards has ended. The pairs most recent surge is being attributed to the approaching 50-hour simple moving average. By 14:00 GMT, the pair was approaching the 122.00 mark, which was strengthened by the close by weekly R3 simple pivot point at 122.09.

If the US Dollar reaches above the 122.00 level and the 122.09 pivot point against the Japanese Yen, the pair would have no technical resistance. However, other round exchange rate levels are bound to act as resistance.

On the other hand, a decline might look for support in the 121.50 and 121.40 levels, before approaching the 50-hour simple moving average near 121.10.
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