USD/JPY reaches 135.00

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


The USD/JPY currency exchange rate has reached a level not observed since 1998. The pair has hit the 135.00 mark's resistance.

During the early hours of Monday's trading, the pair failed at passing clearly above the high level and retraced downwards. At mid-day the currency rate was looking for support in the combination of the 50-hour simple moving average and the supporting trend line, which has guided the pair up for a couple of weeks.

If the USD/JPY resumes its surge and reaches above the 135.00 level, resistance could be found in the 135.50 level and the weekly R1 simple pivot point at 135.82. Higher above, note the 136.00 and 136.50 levels.

On the other hand, a decline of the US Dollar against the Japanese Yen is set to look for support in the 134.50 level, the 50-hour simple moving average and the supporting trend line.

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