USD/JPY remains near support zone

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


On Tuesday morning, the USD/JPY currency exchange rate was looking for support in the 137.70/137.90 zone. The rate had been testing the zone since early Monday's trading. Due to that reason, the future forecast scenarios remained unchanged.

A resumption of the USD surge against the Japanese Yen is expected to encounter minor resistance in the 138.50 mark and the 50 and 100-hour simple moving average near 138.30. Higher above, the high levels near 139.40 are set to once again impact the currency pair.

However, an extension of the ongoing decline might look for support in the 137.50 mark, the 200-hour simple moving average near 137.10 and the 137.00 level.
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