USD/JPY reveals support zone

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


On Friday, the USD/JPY currency pair found support in the 135.60/135.75 zone. By the middle of Monday's trading hours, the pair had reached above the 137.00 mark. Meanwhile, support appeared to be provided by the 50, 100 and 200-hour simple moving averages near 136.50.

A continuation of the recovery might be slowed down by the 137.50 level, before the pair reaches the last week's low levels at 137.70/137.85. Higher above, note the 138.00 level and the weekly R1 simple pivot point at 138.20.

On the other hand, a decline of the US Dollar against the Japanese Yen would have to pass the 50, 100 and 200-hour simple moving averages, before approaching the weekly simple pivot point at 136.18 and the 136.00 mark. Further below, note the 135.60/135.75 zone.
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