USD/JPY tests 103.35 level

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


After plummeting to the support of the 103.00 level, the rate began a recovery, which immediately found resistance in the 103.35 level. This level has been impacting the rate since December 24.

If the rate passes this resistance level, the pair would aim at the combined resistance of the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point at 103.58. In the case of these levels failing to provide resistance, the previous high of 103.90 could be eventually reached.

On the other hand, if the 103.35 holds, the USD/JPY could decline to the support of the 103.00 level. The failing of the 103.00 mark to provide support could result in the rate reaching for the support of the weekly S3 simple pivot point at 102.63.
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