USD/JPY pierces resistance zone

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


The USD/JPY has approached the 137.70/137.85 range and shortly even moved above it. On Tuesday morning, it appeared that the pair was consolidating by trading sideways below the resistance zone and near the 137.50 level.

A decline of the US Dollar against the Japanese Yen might look for support in the combination of the 50 and 100-hour simple moving averages near 137.00. Further below, take into account the 136.50 level, the 200-hour SMA near 136.30 and the weekly simple pivot point at 136.18.

Meanwhile, a potential move above 137.85 and the 138.00 mark could encounter resistance immediately in the weekly R1 simple pivot point at 138.22.
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