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The USD has been declining since the US Chairman's press conference. However, the situation changed on Friday, as the US monthly employment data revealed a stunning growth in the data. The USD/JPY jumped and by the US market open at 14:30 GMT was reaching the 130.50 mark.
A continuation of the currency exchange rate's surge might encounter resistance in the combination of the weekly R1 simple pivot point at 130.94 and the 131.00 mark.
Meanwhile, a decline of the USD to consolidate its recent gains could look for support in the weekly simple pivot point at 129.98 and the 130.00 level. Further below, note the 200 and 100 hour simple moving averages near 129.50.
Fri, 03 Feb 2023 14:21:21 GMT
Source: Dukascopy Bank SA
The USD has been declining since the US Chairman's press conference. However, the situation changed on Friday, as the US monthly employment data revealed a stunning growth in the data. The USD/JPY jumped and by the US market open at 14:30 GMT was reaching the 130.50 mark.
A continuation of the currency exchange rate's surge might encounter resistance in the combination of the weekly R1 simple pivot point at 130.94 and the 131.00 mark.
Meanwhile, a decline of the USD to consolidate its recent gains could look for support in the weekly simple pivot point at 129.98 and the 130.00 level. Further below, note the 200 and 100 hour simple moving averages near 129.50.