USD/JPY declines to 131.00

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


The USD/JPY has continued due to decline due to US Dollar's weakness. By the middle of Wednesday's trading, the pair had reached the combined support of the 131.00 mark and the weekly S1 simple pivot point at 130.94.

A clear move below 131.00 could look for support in the 130.50 and 130.00 levels, before approaching the March low level at 129.63

On the other hand, a recovery of the USD could encounter resistance in the 131.50 level, before approaching the cluster of resistance at 132.00/132.50. In the resistance cluster one can observe the 50, 100 and 200-hour simple moving averages together with the weekly simple pivot point at 132.27.

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