USD/JPY declines to 136.00

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


The fundamental drop of the US Dollar on Tuesday resulted in the USD/JPY currency exchange rate declining to the 136.00 level. Afterwards, a failed recovery found resistance in the 137.00 mark. During Wednesday's European morning hours, the currency pair had returned to the 136.00 level.

If the US Dollar continues to decline against the Japanese Yen, the currency pair might look for support in the weekly simple pivot point at 135.55, the 135.50 mark and the zone that marks previous August high levels at 135.35/135.55. In addition, the zone is being approached by the 200-hour simple moving average near 135.30.

However, a recovery of the rate might face resistance in the combination of the 50 and 100-hour simple moving averages and the 137.00 mark, prior to the rate reaching back up to the 137.45/137.70 range.
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