USD/JPY recovers and breaks pattern

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


On Tuesday afternoon, the USD/JPY currency rate ended trading between 130.50 and 131.00 with a surge. During Wednesday's early trading hours, the pair was fluctuating between the 132.50 and 134.00 levels.

A potential decline of the currency pair might look for support in the 132.00 mark and the 50-hour simple moving average at that level. Further below, note the weekly S1 simple pivot point at 131.32.

However, an extended recovery of the US Dollar against the Japanese Yen could face resistance in the 134.00 mark, the weekly simple pivot point at 134.39 and the combination of the 134.50 mark and the 200-hour simple moving average.
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