USD/JPY respects round levels

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


Despite the US rate hike impacting the USD/JPY, the fundamental event appears to have only set the direction of the rate. Namely, the pair still finds support in round exchange rate levels. On Thursday, the 130.50, 131.00 and 131.50 were acting as support and resistance.

A surge of the US Dollar against the Japanese Yen would have to reach above the 131.50 level, before testing the combination of the 132.00 mark and the 50 and 100-hour simple moving averages. Higher above, take into account the 132.50 level and the 200-hour SMA.

On the other hand, a decline of the currency pair is expected to find support in the weekly S1 simple pivot point at 130.53 and the 130.50 mark. Further below, the 130.00 and 129.50 levels could act as support, before the USD/JYP reaches the weekly S2 simple pivot point at 129.27.
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