USD/JPY is back above 136.00

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Source: Dukascopy Bank SA


The support zone, which was revealed on Friday, has been enough to cause a broader recovery of the US Dollar against the Japanese Yen. By the start of Tuesday's European trading, the currency pair had reached back above the 136.00 mark.

In regards to the near term future, a continuation of the surge of the US Dollar against the Japanese Yen might encounter resistance in the 136.50 mark and the weekly R1 simple pivot point at 136.64, prior to the rate reaching the 137.00 mark.

On the other hand, a potential decline of the currency pair would look for support in the combination of the 50 and 200-hour simple moving average and the weekly simple pivot point near 135.50/135.60. Further below, note the low level zone at 134.75/134.80.
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