USD/JPY declines due to US CPI

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


The USD/JPY was testing a resistance zone at 125.70/125.75, as the US Consumer Price Index data was published and caused a drop below the 125.00 mark. Afterwards, the pair recovered above 125.00. However, the pair encountered resistance in the weekly R1 simple pivot point at 125.22.

A move above 125.22, is set to encounter resistance at 125.50, before reaching the 125.70/125.75 zone. Higher above, take into account the 126.00 mark and the weekly R2 simple pivot point at 126.15.

On the other hand, a potential decline of the US Dollar against the Japanese Yen might find support in the 125.00 mark and the trend line near 124.80. The trend line connects the rate's April low levels.
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