USD/JPY recovery reaches above 110.00

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


First of all, the surge of the USD/JPY has reached above the 110.00 level. Second, the rate reached the September 13 and 14 high level at 110.15 at the start of Thursday's US trading. The near term future was dependent on what would happen at the high level.

If the pair passes the resistance of the 110.15 level, it would face no notable resistance as high as the September high levels near 110.40 and the weekly R1 simple pivot point at 110.42.

However, a decline of the currency exchange rate from the 110.15 level could look for support first in the 110.00 level before reaching for the weekly simple pivot point at 109.77. Below these levels, the 55, 100 and 200-hour simple moving averages were located in the 109.60/109.70 range.
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