USD/JPY remains above 130.00

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Source: Dukascopy Bank SA


The decline of the USD/JPY eventually found support in the weekly S1 simple pivot point at 130.53 and started a recovery. By the middle of Tuesday's trading, the pair was approaching the 132.50 level's resistance. However, future outlook was set to be dictated by the US Federal Reserve Rate hike on Wednesday at 18:00 GMT.

An extension of the ongoing recovery of the US Dollar against the Japanese Yen would face the 132.50 mark and the technical levels that surround it. Higher above, note the 134.00 mark and the weekly R1 simple pivot point.

On the other hand, a decline of the USD/JPY would look for support in the weekly S1 simple pivot point at 130.53 and the 130.00, 129.50 levels.
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