USD/JPY bounces off trend line

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


As the USD/JPY currency exchange rate was testing the resistance of the descending January high levels near 115.50, the US Consumer Price Index data was published. Namely, on Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price index data was released. The USD reacted by declining.

A decline of the USD/JPY currency exchange rate could eventually reach and test the support zone that surrounds the 115.00 mark at 114.96/115.04. Below the zone, note the weekly S1 simple pivot point at 114.92.

However, a potential recovery of the US Dollar against the Japanese Yen could face resistance in the 50-hour simple moving average near 115.30, before the pair aims at the combined resistance of the January high level resistance line and the 100 and 200-hour simple moving averages near 115.50. Higher above, note the weekly simple pivot point at 115.64.
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