USD/JPY breaks out of range

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


The release of US inflation data caused a drop of the USD. On the USD/JPY charts it resulted in the pair passing below the support range at 134.60/134.70.

The ongoing decline might look for support in the 134.00 and 133.50 levels, before approaching the cluster of support levels near 132.00.

Meanwhile, a potential recovery of the US Dollar could encounter resistance in the 134.60/134.70 range and the 100-hour simple moving average near it. Above the range, note the 50 and 200-hour SMAs, the weekly simple pivot point and the 135.10/135.35 zone.
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Wed, 10 May 2023 13:18:49 GMT

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