USD/JPY passes below supporting trend line

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


The resistance of the 126.15/126.30 zone was enough to cause a decline, which eventually passed below the trend line, which connects the pair's April low levels. Namely, the trend lie guided the pair up. On Thursday, the rate was looking for support near the 125.20 level, where various technical levels were located.

If the US Dollar starts a recovery against the Japanese Yen, the currency rate would have to pas the resistance of the 125.63/125.76 zone. Higher above, the 126.00 mark, the weekly R2 simple pivot point and the 126.15/126.30 zone are highly likely to stop a surge.

However, a potential decline below the technical levels near 125.20 and the 100-hour simple moving average could look for support in the 125.00 mark. Below 125.00, the 124.50 level and the 200-hour simple moving averages might stop the USD/JPY from plummeting further.
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