USD/JPY remains near previous high levels

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


Despite reaching a new December high level and passing the resistance of the weekly R1 simple pivot point at 114.30, the USD/JPY currency exchange rate did not start a surge. Instead, the rate retraced below the technical levels and almost reached the 50-hour simple moving average, before returning to trade near the 114.30 level.

In the near term future, the support of the 50-hour simple moving average might trigger a surge. A potential surge would have no technical resistance as high as the weekly R2 simple pivot point at 114.86. However, round exchange rate levels could act as resistance and slow down a surge.

Meanwhile, a decline of the USD/JPY below the 50-hour SMA, might look for support in the 114.00 mark, the early December high zone at 113.88/113.96 and the 100 and 200-hour simple moving averages near 113.80.
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