USD/JPY reaches above 139.00

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


With the start of a new month, the USD/JPY broke the resistance of the 138.86/139.08 zone. During the early hours of Thursday's trading, the pair shortly reached above 139.50, prior to retracing and confirming the previous resistance zone as support.

An extension of the surge would have to clearly pass the 139.50 level, before approaching the 140.00 mark and the weekly R3 simple at 140.35.

On the other hand, a decline of the pair is highly unlikely due to the support of the weekly R2 at 139.06, the 138.86/139.08 zone and the 50-hour simple moving average. Below these levels, the 138.50 mark, the 100-hour SMA, the weekly R1 at 138.40 and the low level zone at 138.07/138.26 are all expected to act a support.
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