USD/JPY bounces off 135.00

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


The resistance of the 135.00 mark has held and the pair has declined to the support zone near 132.50. The decline is being attributed to a broader run to safety. The run to safe assets has been caused by the crash of Credit Suisse.

A move below 132.50 could look for support in the 132.00 mark and the weekly S2 simple pivot point at 131.86. Further below, note the 131.50 and 131.00 levels.

However, a recovery of the US Dollar against the Japanese Yen is set to encounter resistance in the 133.50 level, the 50-hour SMA and the weekly S1 simple pivot point at 133.41, prior to approaching the 100-hour SMA and the 135.00 mark.

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