USD/JPY is supported by 137.50

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


This week, the USD/JPY currency pair has been finding support in the combination of the previous November low level and the 137.50 level. In the meantime, it has been spotted that the pair is encountering resistance in the 130.00 mark. During the first half of Tuesday's trading, the pair was heading to the support levels.

If the 137.50 level holds, another retracement to the 139.00 level might occur. However, take into account that the 50 and 100-hour simple moving averages could act as resistance. Higher above, take into account the 139.50 level and the weekly simple pivot point at 139.79 together with the 200-hour SMA.

On the other hand, a decline below 137.50 might look for support in the weekly S1 simple pivot point at 137.33. Afterwards, the 137.00 might act as support.
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