USD/JPY finds support in pivot point

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


On Friday morning, the retracement of the USD/JPY currency pair shortly pierced the 130.00 mark, before finding support in the weekly R1 simple pivot at 129.82. In the meantime, the pair had ignored the Thursday's mid-day low level zone at 130.18/130.30. Moreover, note that the 50-hour simple moving average was approaching the rate from below.

In the case that the USD resumes its surge against the Yen, the pair might encounter resistance in the 130.50 and 131.00 levels, before testing the weekly R3 simple pivot point at 131.20.

Meanwhile, a decline below the 130.00 mark, the weekly R2 pivot point at 129.82 and the 50-hour simple moving average could result in the pair looking for support in previous high levels at 129.40 and 128.85/129.10.
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