USD/JPY finds support in SMA

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Source: Dukascopy Bank SA


On Tuesday, the USD/JPY was finding support in the 50-hour simple moving average near 113.55. Meanwhile, the pair appeared to be ignoring the resistance of the 100 and 200-hour simple moving averages and the weekly simple pivot point in the 113.65/113.72 range.

If the rate surges, it could find resistance in the 113.88/113.96 zone, which captures early December high levels. Higher above, resistance is expected to be provided by the December 15 high levels at 114.20/114.28.

On the other hand, a decline of the pair would have to pass the 50-hour simple moving average at 113.55, before aiming at the combination of the December low level at 113.15 and the weekly S1 simple pivot point at 113.16.
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Tue, 21 Dec 2021 12:49:33 GMT

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