USD/JPY trades sideways

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Source: Dukascopy Bank SA


Since Thursday, the USD/JPY currency exchange rate has been fluctuating sideways between the 115.20 and 115.70 levels. It was previously expected that the 50-hour simple moving average might push the pair up. However, on Monday, the USD/JPY passed below the SMA near 115.40.

If the rate passes below the 115.20 mark and the support zone below it, the rate could first look for support in the 115.00 mark. Further below, take into account the 100-hour simple moving average and the weekly simple pivot point at 114.80.

However, a surge of the pair would have to pass the 50-hour simple moving average near 115.40, before reaching the 115.70 level.
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