USD/JPY surges to 139.50

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Source: Dukascopy Bank SA


At mid-day on Wednesday, the USD/JPY currency exchange rate reached above the 139.00 mark and sharply reached 139.50. In the meantime, it was spotted that the 50 and 100-hour simple moving averages are managing to act as support and resistance.

A surge above 139.50 is set to encounter resistance in the 200-hour simple moving average and the weekly simple pivot point at 139.79, before reaching the 140.00 level. Higher above, note the 140.50 and 141.00 levels and the weekly R1 simple pivot point at 141.53.

Meanwhile, a decline is expected to look for support in the 50 and 100-hour simple moving averages near 138.60 and the 138.50 level. Further below, note the 138.00 and 137.50 levels.
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