USD/JPY trades sideways

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


Throughout July, the USD/JPY currency pair has been trading between the support of the 134.75/134.80 and 136.28/136.38 zones.

At mid-day on Wednesday, the USD/JPY appeared to have found additional support in the 135.00 level. Meanwhile, the 136.00 level did not appears to be capable of acting as notable resistance. In the meantime, the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 135.50/135.70 were periodically acting as support and resistance.

During the first half of Thursday, the rate was trading between the support of the weekly simple pivot point and the 100-hour simple moving average near 135.55. If the pair passes below the 135.50 level, the rate could once again look for support in the 135.00 mark and the 134.75/134.80 zone.

On the other hand, a surge of the US Dollar against the Japanese Yen is expected to encounter resistance in the 136.28/136.38 zone, the 136.50 level and the weekly R1 simple pivot point at 136.64.
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