USD/JPY pierced support levels

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


In the near term, the rate was expected to test the resistance of the zone near 103.70. If this level fails to hold the rate down, the pair should reach for the 103.90 level, which kept the pair down in December 16 and 21.

In the case of the resistance holding, the pair would look for support in the weekly simple pivot point at 103.58 and the hourly simple moving averages. However, take into account that the support of the SMAs was passed during the early morning hours of Monday's trading.

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