USD/JPY trades around 130.50

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Source: Dukascopy Bank SA


On Friday, the USD/JPY currency exchange rate returned to trading to levels, where the pair was located before the volatility, which was caused by the Federal Reserve rate hike and following press conference. During the day, the rate had encountered resistance in the 130.70 and 130.80. Meanwhile, support was provided by the previous resistance zone at 130.20/130.50.

If the pair continues to move higher, it is expected to encounter resistance in the previous high level zone at 131.00/131.25. Afterwards, new highs might be booked at 131.50 and 132.00.

On the other hand, a decline below 130.20/130.50 might find support in the combination of the 50 and 100-hour simple moving averages and the 130.00 mark.
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